Indegene’s Q4 profit falls sequentially, causing shares to drop by 4%

Indegene, a leading digital first commercialisation partner to the global life sciences industry, has reported a positive performance for the fiscal year ending March 31, 2024. The company saw an increase in active clients, with 63 clients compared to 62 in the previous fiscal year.

Chairman and CEO, Manish Gupta, expressed his satisfaction with the company’s performance, highlighting their reputation as a trusted partner to the top 20 global pharmaceutical companies. Indegene’s revenues closely align with the global life sciences industry’s expenditures, with 69% of their revenues coming from the top 20 Pharma companies.

With a workforce of 5,081 employees as of March 31, 2024, the company also reported a voluntary attrition rate of 15.7%. Earlier in the month, Indegene successfully raised ₹1,842 crore through an IPO, which received overwhelming investor response, subscribing 70.3 times.

The funds raised from the IPO will be used to repay debts of one of its subsidiaries, ILSL Holdings, Inc., as well as for capital expenditure requirements, general corporate purposes, and inorganic growth opportunities.

Established in 1998, Indegene provides a range of services to the life sciences industry, including drug development, clinical trials, regulatory submissions, pharmacovigilance, complaints management, and sales/marketing support.

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