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Hold Glenmark Pharmaceuticals; target of Rs 440: ICICI Direct

ICICI Direct recommended hold rating on Glenmark Pharmaceuticals with a target price of Rs 440 in its research report dated August 16, 2022.

August 17, 2022 / 03:19 PM IST
 
 
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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


Maintain HOLD as we await EBITDA margin sustainability besides persisting US base business pressure amid regulatory hurdles at Monroe facility. We value Glenmark at Rs440 based on SOTP valuation.


For all recommendations report, click here

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Glenmark Pharmaceuticals - 160822 - ic

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first published: Aug 17, 2022 03:19 pm
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