Glenmark Life Sciences is now a too-cheap-to-ignore story 🚀
7x TTM EV/EBITDA, Next year (FY24) -> it will be much lower!
The Narratives of
1. Glenmark's dependence on its parent company
2. The parent's past capital misallocation
will perish with the higher prices 🖋️
7x TTM EV/EBITDA, Next year (FY24) -> it will be much lower!
The Narratives of
1. Glenmark's dependence on its parent company
2. The parent's past capital misallocation
will perish with the higher prices 🖋️
1/ My notes from their IPO.
Looked interesting then, now with a 50% price correction; the risk reward is a lot better ✨
Looked interesting then, now with a 50% price correction; the risk reward is a lot better ✨
2/ "Have added complex molecules with an even higher entry barrier, from a chemistry perspective & a characterization perspective." ~ FY22
1st wave of APIs: Speed to market (26 in dev)
2nd wave of APIs: Cost improvement projects
All capacities -> Multipurpose with ZLD 👀
1st wave of APIs: Speed to market (26 in dev)
2nd wave of APIs: Cost improvement projects
All capacities -> Multipurpose with ZLD 👀
3/ The biggest risk is the next leg of USFDA visits to their various facilities: should happen over the next 1-2 years (Photo 1)
Capacity additions in 3 stages will trigger that (Photos 2-4)
Capacity additions in 3 stages will trigger that (Photos 2-4)
4/ Expanding TAM by 8-10 products every year.
The process to decide which molecules to go for 👇
10 new products got validated in FY22 & 17 went for cost improvement; the names are in photo 3 (Too much transparency? @unseenvalue)
The process to decide which molecules to go for 👇
10 new products got validated in FY22 & 17 went for cost improvement; the names are in photo 3 (Too much transparency? @unseenvalue)
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