Glenmark Pharma a good pick: PN Vijay

Glenmark Pharma is a good pick in the midcap pharma , says PN Vijay, Portfolio Manager.

Vijay told CNBC-Tv18, "One needs to be first of all very cautious on the midcap pharma. I think it is absolutely wrong to compare it with FMCG because there are multi various risks in pharma and most of them do not have the comfort of formulations but they all have growth models. So there is a big caveat that midcap pharma is more like midcap IT rather than FMCG."
He further added, "Having said that I like Glenmark because it’s got a very strong balance sheet, it’s got a lovely business in the sense that it’s strong in formulations also. It’s got a low-key presence, domestic formulations business in very skill based pharma products. It's going extremely well and it keeps getting milestones. So around Rs 370 level Glenmark is my best pick in the midcap pharma. We have it in our portfolios."