Expect 30-40% upside in Glenmark in 12-18 months: Deven Choksey

In an interview to CNBC-TV18 Deven Choksey of KRChoksey Investment Managers shared his reading and outlook on the market."In 180 day exclusivity period in anti-diabetic drug in US market, Glenmark recorded superlative performance with more than 100 percent growth. I believe that the stock holds promise to grow between 30 percent and 40 percent upside in next 12-18 months' time", he said.Below is the verbatim transcript of Deven Choksey's interview to Latha Venkatesh and Anuj Singhal on CNBC-TV18.Anuj: What is your call on Sun TV Network and Glenmark Pharma?A: Starting with Glenmark, I believe that probably something which one was expecting out of Glenmark has now started happening. In 180 day exclusivity period in anti-diabetic drug in US market, they recorded superlative performance with more than 100 percent growth.As my analyst briefed me, basically we are expecting this full calendar year to grow between 200 and 250 million kind of a revenue for this product itself. So US market is basically going to be a decisive market for Glenmark for its anti-diabetic product, which they have brought in the exclusivity period.My reading says that we have the visibility of around two years as far as the earnings outlook is concerned between 28 percent and 30 percent CAGR earning outlook for Glenmark for next two years, which is sufficient enough for this company to register a case for growth portfolio investment. That is why we believe that the stock holds promise to grow between 30 percent and 40 percent upside in next 12-18 months’ time.for full interview, watch video...