India's Gland Pharma rises as Motilal Oswal bullish on growth prospects

Gland Pharma

21/03/2024 08:06

** Shares of Gland Pharma  GLAD.NS  up 2.6% at 1,745.20 rupees;
among the top gainers on the Nifty Pharma index  .NIPHARM  
    ** Motilal Oswal reiterates "buy" with a TP of 2,240 rupees;
cites plans to expand in the rest of the world (ROW) by entering
new markets
    ** Brokerage says revival in sales in core markets such as
the U.S., EU, Canada, and Australia, led by new product launches
and the re-launch of certain products    
    ** This expansion could result in ROW sales reaching 6.9 bln
rupees at 11% CAGR over FY24-26
    ** Brokerage expects a 13% CAGR in India sales in this
period
    ** Avg rating of 15 analysts close to equivalent of "buy",
median PT is 1,913.50 rupees - LSEG data
    
    
    
    
    
    

($1 = 83.1000 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))