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Nirmal Bang Report
We hosted the management of Gland Pharma Ltd. for an investor interaction. The key takeaways from our discussion are as follows:-
Gland Pharma is confident of launching the Sputnik vaccine as soon as the export constraints are lifted. The production ramp-up and considering the minimum quarantine period for the inventory, it will take around a month for the company to start vaccine shipments. Despite the delay, there is still significant demand in rest of world markets considering that there is a very large population which is still unvaccinated.
India business, which is ~17% of its overall sales, can be broadly broken down into two parts – business-to-consumer and business-to-business. The B2C business (4% of revenue) is not an area of strength for Gland Pharma and is primarily driven by the heparin portfolio.
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