Please Share:: 
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Glenmark is a research driven, global, fully integrated pharma
company.
Glenmark has received the final USFDA approval for generics
Atovaquone and Proguanil. The drug is a generic equivalent of GSK’s
Malarone and is used for the treatment of malaria.
Glanmark has also made a para-IV filing for Malarone. After the out of
the court settlement with GSK it will launch this drug in Q2FY12 and
will also be able to enjoy the limited competition for a longer period
as there are no other ANDA filing on this drug.
Company had got approvals for 19 new products last year and they
will begin contributing significantly from coming quarters now.
The final decision on the generic version of Tarka is still pending, the
major revenue contributor for the company last year. As the first to
challenge the patent, Glenmark was expected to receive 6 months
FTF-exclusivity if the judgment was favourable which will further
strengthen the market share and add to the top line.
Demand from US is expected to grow going forward on the recovery
and growth pick up in coming quarters given the recent product
approvals (received 5 final and two tentative approvals in Q3FY11).
The improving business prospects and outlook for the company due to
various ANDA and niche launches such as Oxycodone, Malarone and
strong NCE pipeline expected in next 12 months is giving significant
potential for growth.
Foreign institutions have increased their stake in the Dec’10 Quarter,
shows confidence in the company.
Risks
Failure in development of NCEs and US recovery are the key concerns.
Technical Comments
The stock has formed a strong base by consolidating for the last 11
trading session around 280-295 levels. The stock looks very
attractive in terms of risk reward calculation. On weekly chart it has
taken strong support on the lower band of the channel indicating
strong pullback from these levels is expected in near term. One can
initiate long position with stop of 275 and target of 330 levels in
coming days.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Glenmark is a research driven, global, fully integrated pharma
company.
Glenmark has received the final USFDA approval for generics
Atovaquone and Proguanil. The drug is a generic equivalent of GSK’s
Malarone and is used for the treatment of malaria.
Glanmark has also made a para-IV filing for Malarone. After the out of
the court settlement with GSK it will launch this drug in Q2FY12 and
will also be able to enjoy the limited competition for a longer period
as there are no other ANDA filing on this drug.
Company had got approvals for 19 new products last year and they
will begin contributing significantly from coming quarters now.
The final decision on the generic version of Tarka is still pending, the
major revenue contributor for the company last year. As the first to
challenge the patent, Glenmark was expected to receive 6 months
FTF-exclusivity if the judgment was favourable which will further
strengthen the market share and add to the top line.
Demand from US is expected to grow going forward on the recovery
and growth pick up in coming quarters given the recent product
approvals (received 5 final and two tentative approvals in Q3FY11).
The improving business prospects and outlook for the company due to
various ANDA and niche launches such as Oxycodone, Malarone and
strong NCE pipeline expected in next 12 months is giving significant
potential for growth.
Foreign institutions have increased their stake in the Dec’10 Quarter,
shows confidence in the company.
Risks
Failure in development of NCEs and US recovery are the key concerns.
Technical Comments
The stock has formed a strong base by consolidating for the last 11
trading session around 280-295 levels. The stock looks very
attractive in terms of risk reward calculation. On weekly chart it has
taken strong support on the lower band of the channel indicating
strong pullback from these levels is expected in near term. One can
initiate long position with stop of 275 and target of 330 levels in
coming days.
No comments:
Post a Comment