Subscribe to Gland Pharma: KR Choksey

KR Choksey IPO report on Gland Pharma

Established in Hyderabad, India in 1978, Gland Pharma has grown over the years from a contract manufacturer of small-volume liquid parenteral products, to become one of the largest and fastest growing injectable-focused companies, with a global footprint across 60 countries, including the United States, Europe, Canada, Australia, India and other markets. The company operates primarily under a business to business (B2B) model and have an excellent track record in the development, manufacturing, and marketing of complex injectables. This presence across the value chain has helped the company to witness the exponential growth. Company is promoted by Shanghai Fosun Pharma, a global pharmaceutical major. Company has 7 manufacturing facilities, of which 4 are for formulations & 3 are for APIs. The entire API production is consumed internally.

Valuation and Outlook

Hence, we recommend a “Subscribe” rating on the biggest Pharma IPO issue in the country, available at an attractive valuations.

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