India's Gland Pharma, Laurus Labs gain as Jefferies initiates with 'buy'

Gladstone Capital

05/01/2022 07:01

** Shares of Indian pharma contract development and
manufacturing organization (CDMO) companies Gland Pharma
 GLAD.NS  and Laurus Labs  LAUL.NS  gain as much as 2.7% and 5%,
respectively
    ** Jefferies late on Tuesday initiated coverage on GLAD and
LAUL with "buy" ratings, calling them its top picks across the
five CDMO firms it covers
    ** "Indian CDMO companies are seeing significant order flow
improvement with strong growth visibility... we like the ones
where vendors operate in less competitive spaces and those
backed by proven management" - Jefferies
    ** "We like Gland and (Syngene International  SYNN.NS ) for
their defendable business models and Laurus for runway to growth
in the CDMO synthesis business. In the past year, Gland has been
the best-performing CDMO player... with Laurus not far behind" -
Jefferies
    ** GLAD shares gained 65.2% in 2021, while LAUL jumped 52.6%
 
    


 (Reporting by Anuron Kumar Mitra in Bengaluru)
 ((AnuronKumar.Mitra@thomsonreuters.com; +91 99863 58469;))