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Glenmark Pharmaceuticals Ltd BSE:532296 NSE:GLENMARK

Glenmark Pharmaceuticals Ltd is engaged in Healthcare/Hospitals business. Company is listed on both NSE and BSE. NSE symbol for Glenmark Pharmaceuticals Ltd is 'GLENMARK' and BSE code for Glenmark Pharmaceuticals Ltd is '532296'.

About Company

Glenmark Pharmaceuticals Limited is an India-based company that is engaged in the business of manufacturing and marketing of pharmaceutical formulations and active pharmaceutical ingredient. The Company is present in over 80 countries across the globe, with some of its subsidiaries and representative offices in the United States, the United Kingdom, Switzerland, Brazil, South Africa, Nigeria, Russia, Philippines and Malaysia. Its lead molecules, Oglemilast (for asthma/COPD) and GRC 8200 (for Type ll diabetes), are in Phase ll clinical trials. During the fiscal year ended March 31, 2006, the Company commissioned its new manufacturing facility at Baddi (Himachel Pradesh). In October 2005, Glenmark Pharmaceuticals SA (GPSA), a wholly owned subsidiary of Glenmark Pharmaceuticals Limited, acquired Servycal S.A, an Argentine marketing company. On December 26, 2005, GPSA acquired Bouwer Bartlett Pty. Ltd., a South African sales and marketing company

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Glenmark Pharmaceuticals Ltd User Reviews

12. Raj  Dec 13, 2007 8:51:18 AM IST Reply

Glenmark is reportedly close to signing a US$100-150mn deal for its experimental drug Oglemilast for the European market. It is also among the eight generic drug makers in race to tap the US market for AstraZeneca's cholesterol-reducing tablet, Crestor. <br>Closed very well yesterday at around 580 after touching 600+. <br>

11. StockTip  Dec 14, 2007 2:09:16 AM IST Reply

Source:Citigroup Global Markets -Equity Research<br><br>Call-Buy<br>CPM:560<br>Target:632<br><br>Investment strategy <br><br>We have a Buy/Medium Risk (1M) rating on the stock with a target price of Rs632/share. Our positive outlook on the stock takes into consideration the following: a) R&D pipeline has broadened with seven molecules expected by the company to be in the clinic by end FY08&&; b) With three molecules licensed out, the R&D option value or value at risk is now spread across a larger number of molecules&&; c) the base business has witnessed significant traction, especially in the USA and Latin America. We also believe that the rapid scale up in the base business adds another catalyst for the stock apart from the option value being built in by its R&D effort (primarily Oglemilast, GRC-8200 & GRC-6211). The risk reward, we believe, remains in favor of investors. Although there are potential risk triggers (especially related to Oglemilast) that could lead to partial erosion of the option value, we believe that any such decline is a buying opportunity since Glenmark has a robust pipeline that would enable it to shore up the R&D value over time via new outlicensing deals. <br><br>Valuation <br><br>We use sum of the parts to value the stock, valuing the R&D deals and the base business separately. We believe probability-adjusted DCF is appropriate to calculate the option value from Oglemilast, GRC-6211 and GRC-8200 as it captures the reducing probability of success as the molecules progress on the clinical path. We have used the licensing deal with Forest Laboratories for the US market as a benchmark as well as a 13% discount rate (in-line with Glenmark's WACC) following our adjustment for the higher-risk income streams by probability of success. We arrive at a value of Rs125/share for Oglemilast. We use a similar approach for GRC-8200 and GRC-6211 arriving at a value of Rs47/share and Rs95/share respectively. We value Glenmark's base business (excluding R&D income) on P/E in view of the healthy growth expected in earnings. Our valuation is based on 20x forward earnings, which is at a premium to the range that we use for other mid-sized pharma companies. We believe Glenmark deserves a premium given its higher value addition in its business and the ability to execute and leverage its assets. Based on 20x March 09E earnings, we value Glenmark's base business at Rs363/share. <br><br><br>Risks <br>We rate Glenmark Medium Risk, even though its risk rating according to our quantitative model is Low, as we believe the element of R&D related option value built into the stock warrants a higher risk rating. The main downside risks to our target price and estimates include: (1) Glenmark's efforts to build its own front-end in regulated markets could prove to be a drag on earnings if it is unable to effectively execute its plans&&; (2) growing competition, rapid price erosion and fragmented market share are risks that are inherent to the generics business&&; and (3) the failure of Oglemilast or GRC-8200 could lead to the R&D milestone payments getting taken off our estimates. If any of these factors has a greater impact than we expect, the stock could have difficulty achieving our target price. <br>

10. Susil  Jan 13, 2008 3:31:44 AM IST Reply

Glenmark Pharma is likely to shoot up in the coming days. One of the broking firms that went public recently is recommending this stock strongly to all its clients. At the same time, many fund managers believe that 2008 could be the year of pharma and many of the pharma stocks would surge. If you believe in the story then Glenmark Pharma is right candidate to pick up. The scrip at present is uoting at Rs 587. It has already surged by 29 per cent in the last one month. The target that we have been given is Rs 750 by March 2008.<br>

9. PK  Feb 29, 2008 6:44:09 AM IST Reply

The board of Glenmark Pharmaceuticals Ltd is meeting on Feb 5th to approve the transfer by the way of sale, lease or otherwise its Domestic Active Pharmaceutical Ingredients and Generics Formulations Business together with all land, building, plant and machinery, brands, trademarks and other assets related thereto and pertaining to the operations of the Company at its plants in Goa, Ankleshwar, Kurkumbh and Mohol and all the employees of the said business, as a going concern, to Glenmark Generics Ltd, a subsidiary of the Company for a consideration not less than Rs 698 Crores (Rupees Six hundred ninety eight crores) as may be determined by the Board of Directors with effect from April 01, 2008

8. KK  Feb 29, 2008 7:00:26 PM IST Reply

Glenmark pharmaceuticals on Thursday, 28 February 2008 said it has got the approval of its shareholders to hive off its generics and active pharmaceutical ingredients (API) businesses into a separate entity.

7. Raj  Mar 19, 2008 5:34:54 AM IST Reply

Indian pharma major Glenmark Pharmaceuticals Ltd has started marketing its drugs for skin disorders in the US. <br><br>Informing the Bombay Stock Exchange (BSE) about this Monday, the company said the marketing was being done by its US-based wholly owned subsidiary Glenmark Pharmaceutical Inc (GPI). <br><br>The company had acquired marketing rights after a green signal from the US Food and Drugs Administration (USFDA) for a line of Clobetasol Propionate products in the form of cream, ointment, gel and topical solutions. <br><br>According to the company, the generic Clobetasol Propionate is administered as external application in the treatment of skin diseases like eczema and psoriasis. <br><br>The company also plans an entry into the US semisolid product market and is studying the launch of an additional 11 dermatological products in one year's time. <br><br>The number of GPI's generic products in the US market now touches 28. In the coming months the company is expecting more forays into the US market as at present it has over 35 abbreviated new drug applications awaiting USFDA launch approval.<br>

6. Raj  May 5, 2008 7:27:05 AM IST Reply

Glenmark Pharmaceuticals is poised to launch 5 generic products every quarter this year in the US and will be filing about 25 abbreviated new drug applications (ANDAs) with the US Food and Drugs Administration (FDA) this year.

5. Kunal  Jun 16, 2008 6:53:30 PM IST Reply

<b>Buy@ Rs 708 For target of Rs 938 In 1 Year.</b><br><br>As part of the re-organisation, Glenmark spun out its non-branded generics international business into a separate company, Glenmark Generics (GGL) effective April 1, 2008. <br>The company plans to raise about Rs 2,000 crore in FY09 by diluting 25-30 per cent stake in GGL (by way of an IPO) and thereby fund its ambitious growth and acquisitions in the US and EU generics markets. <br>Glenmark's international generic business has risen 42x in the past five years from a modest base of about $7 million in FY03. Performance in the dosage-form market in the US is exemplary, with $140 million revenues (with estimated EBITDA margin of 38 per cent and NPM of 34 per cent in FY08) catapulting the company into the big-league of the top-4 from India. <br>The company has an impressive pipeline of 13 compounds, with three new chemical entities (NCE) in phase II. <br>Glenmark has beaten its FY08 guidance by 2 per cent and raised PAT guidance for FY09 by 8 per cent to $210 million and FY10 by 15 per cent to $282 million, driven by the base generics business. <br>The stock is currently trading at a P/E of 16x FY10E earnings on a consolidated basis. The fair value for the stock is Rs 938, representing potential upside of 45 per cent over the next 18 months.

4. malik  Feb 12, 2011 6:16:55 AM IST Reply

<b>Buy@ Rs 285.3 For target of Rs 380 In More then 1 Year.</b><br><br>At the current price of Rs 284, the stock is trading at price to earnings multiple of 11.2 times our estimated FY13 earnings (excluding the out-licensing deals). Hence, we recommend a ‘BUY` on the stock from a 2-3 year perspective with a target price of Rs 380. This implies a compounded return of 14.3%.

3. Marketpulse  Jul 29, 2011 12:31:16 AM IST Reply

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2. Marketpulse  Jul 29, 2011 12:31:16 AM IST Reply

<b>Buy@ Rs 330.8 For target of Rs 401 In 1 Month.</b><br><br>Technically strong stocks are EKC @ 91sl 87 tgt 99 Sesa Goa @ 287 sl 283 tgt 301 Glenmark @ 330 sl 325 tgt 401 Navneet @ 67 sl 65 tgt 88 Wockhardts @ 451 sl 425 tgt 480 JSW Steel @819 sl 797 tgt 1016.Hexaware @ 85 sl 81 tgt 95 Lupin @ 449 sl 442 tgt 501 Canbank @ 476 sl 471 tgt 535 Greaves cotton @ 89 sl 85 tgt 124 Bk of Baroda @ 870 sl 862 tgt 950 Aurobindo pharma @ 172 sl 166 tgt 252 Varun Inds @250 sl 242 tgt 350....<br>Visit us at<br>

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