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Glenmark Life IPO: Massive retail rush oversubscribed on Day 1, what's the buzz?

Glenmark Life is expected to be supplying the API for Covid drug Favipiravir for Glenmark

Retail investors are rushing towards the Rs 1,500-crore-worth Glenmark Life IPO which was full subscribed within hours of opening . So what is enthusing traders and investors in this pharma play Here is what you need to know about the Glemark Life-:

  1. Growth Trigger: The company is expected to be supplying the API for Covid drug Favipiravir for Glenmark.
  2. Promising Portfolio: With a strong showcase  of 120 molecules globally. 16 of the 20 largest generic companies globally were its customers.
  3. Areas of Expertise: The future growth of its 120 molecules products is expected to remain stable driven by the increasing prevalence of non-communicable diseases like heart disease, stroke, cancer, diabetes and chronic lung disease.
  4. Expansion: Plans to increase its API manufacturing capabilities.
  5. Next Phase: Expanding into Complex APIs such as oncology, iron replacement, peptides.

Glenmark Life is also trading at a discount vs peers such as Divis Lab. The company will also be debt free post IPO and currently faces no regulatory issues on any of it's plants. 

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