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Gland Pharma: Operating leverage to offset input cost pain

As far as geographical diversification is concerned, Gland Pharma's foray into non-US markets is expected to accelerate. It's seen to leverage from products already approved in the US for launch in other markets

October 25, 2021 / 09:37 AM IST
Gland Pharma: Operating leverage to offset input cost pain

Shilpa Medicare | The company raised Rs 297.51 crore from marquee investors including Malabar India Fund, Malabar Select Fund, Malabar Midcap Fund, Think India Opportunities Master Fund LP, Blue Daimond Properties, Ohm Core Investment Corp, Hypnos Fund and Madhusudan

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Gland Pharma (CMP: Rs 3,694; M Cap: Rs 60,692 crore) along with other peers in the Pharma sector has been in a consolidation phase for last three months. Stock has corrected by 15 percent from its recent highs which leads us to review the investment case particularly when regulatory, pricing and raw material cost headwinds have picked up for the sector. Sequentially, there was a drop in topline and margins in the quarter gone by. Diversification under way Q2FY22 sales growth...

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