Gland Pharma: A Master Injector - Motilal Oswal Initiates Coverage
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Motilal Oswal Report
Gland Pharma Ltd. is a comprehensively injectable-focused company, with a wide generics portfolio comprising of -
- own/contract development,
- technology transfer,
- an established manufacturing value chain across the range of delivery systems, and
- extensive regulatory capabilities.
The company is progressing well on building a complex product pipeline, backward integration, and gaining market share in commercialized limited-competition products.
Accordingly, we expect a 25% earnings compound annual growth rate over FY20– 23. The potential upside in earnings owing to inorganic opportunities funded through cash available on balance sheet is not captured in our estimate.
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