Sharekhan's research report on Gland Pharma
Gland reported healthy results for Q4FY22 with the revenues staging a strong double digit growth while PAT staged a 9.8% yoy growth. Gland has lined up a strong new launch pipeline in the us markets comprising 20-25 new launches over the next three quarters offering addressable market size of $3bn. Gland has repurposed its Vaccine manufacturing facility to a biosimilar CDMO and is awaiting customer visits over the near to medium term.
Outlook
We maintain Buy on the stock of Gland Pharma with a revised PT of Rs 3770. Strong domain expertise and growth prospects, sturdy earnings track record, and strong financials are key positives for Gland.
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