Glenmark Life Sciences (GLS) IPO notes 🔬
Plans to take the capacity to 1762KL (currently 762KL) in the next 4 years.
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A thread 🧵👇
#IPOwithJST
1/ About the company
Developer & manufacturer of high value, non- commoditized APIs (complex & low competition) in chronic therapeutic areas: CVS, CNS, pain management & diabetes, etc
Basic details about the IPO 👇
Note: After paying off liabilities, 150crs remain for capex.
2/ The Journey
Established the API business in FY02
Since 2015, Have not received any adverse reactions from regulators (USFDA, PMDA) in the total 38 audits & inspections & Have gone through 432 customer audits.
Filled 403 DMFs & CEP registration across markets globally.
3/ Trends that the company is betting on & what works for them
China+1: India API market growth (10% cagr projected from FY21-26) will outpace the industry: Driven by specialty API+ Strong domestic market
Highest no. of USFDA approved API facilities & % of DMFs filled
4/ Interesting facts
- 120 molecules: $142B market size
- Targetting 8 to 10 new molecules every yr (Key differentiator over time)
- 66% of sales from regulated markets
- Works with 16 of the top 20 generic cos.
- Top 7 customers: 5 to 15yrs old