Buy Glenmark Pharmaceuticals; target of Rs 680: ICICI Direct

ICICI Direct's research report on Glenmark Pharmaceuticals

Glenmark’s business is separated into three entities Glenmark Pharmaceuticals for building a global generic, specialty and OTC business in therapy areas of dermatology, respiratory, oncology among others Glenmark Life Sciences for manufacturing and marketing APIs Innovation New Company (ICHNOS) to focus on discovery and development of novel, first‐in‐class treatments in the therapeutic areas of immunology, oncology and pain encompassing both NBEs as well as NCEs

Outlook

We retain our BUY rating on the stock We value Glenmark at Rs 680 based on SOTP valuation

For all recommendations report, click here

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