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<keyword id="6444828" type="General" weightage="100" keywordseo="gland-pharma" source="Orion">Gland Pharma</keyword> on Monday announced that it would be investing ₹400 crore to create additional capabilities in its existing facility at Genome Valley here to manufacture biologicals, biosimilar, antibodies and recombinant <keyword id="48003" type="General" weightage="50" keywordseo="insulin" source="Orion">Insulin</keyword>. An official release from the state government said the expanded facility will have employment generation potential of more than 500 numbers of qualified, skilled and semi-skilled workforce to be recruited, mostly from nearby places. The company established their biopharmaceutical facility in February last year at Genome Valley with an investment of ₹300 crore to manufacture vaccines, biologicals, biosimilar, antibodies and others. The expanded site is envisaged to meet the national and international regulations to be followed in the manufacturing of the biological products as applicable and shall be built under the GMP guidelines applicable for the respective product lines, it said. The announcement was made after <keyword id="2554387" type="General" weightage="50" keywordseo="telangana-industries" source="Orion">Telangana Industries</keyword> Minister KT <keyword id="82835" type="General" weightage="80" keywordseo="rama-rao" source="Orion">Rama Rao</keyword>'s meeting with the Managing Director and Chief Executive Officer of Gland Pharma <keyword id="10242761" type="General" weightage="50" keywordseo="srinivas-sadu" source="Orion">Srinivas Sadu</keyword>. Srinivas Sadu said, "We are delighted to collaborate with the Government of Telangana on its vision of making the State a hub for global pharmaceutical requirements, by expanding our Bio-CDMO facilities in <keyword id="238799" type="General" weightage="50" keywordseo="shamirpet" source="Orion">Shamirpet</keyword>. This project investment is estimated to be about ₹400 crore and expected to generate employment to about 500 personnel." Rama Rao said, "I am delighted that Gland Pharma will be investing ₹400 crores in expanding their footprint in Hyderabad and will create 500 more jobs in Telangana." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/cereal-prices-likely-to-remain-elevated-going-in-fy24-crisil/articleshow/98093985.cms">Cereal prices likely to remain elevated going in FY24 : Crisil</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/india-inc-breaks-silence-on-adani-hindenburg-row/slidelist/98093730.cms">India Inc breaks silence on Adani-Hindenburg row</a>

Gland Pharma to invest ₹400 Cr to expand its Telangana plant

<ul><li>A day after its parent <keyword id="3521910" type="General" weightage="50" keywordseo="fosun-pharma" source="Orion">Fosun Pharma</keyword> said it was looking to sell its controlling stake in <keyword id="6444828" type="General" weightage="80" keywordseo="gland-pharma" source="Orion">Gland Pharma</keyword>, the company has announced its plan to acquire Europe’s Cenexi. </li><li>Acquisition to make Gland Pharma among the largest contract development and manufacturing companies. </li><li>Deal to be funded by internal accruals. Cenexi has presence across four manufacturing sites in Europe which include three sites in France and one site in Belgium. </li></ul>Gland Pharma Limited, a generic injectable focused contract development and manufacturing company, on Wednesday announced that it would acquire Cenexi Group through its wholly owned subsidiary Gland Pharma International PTE, Singapore. Gland’s subsidiary has entered into a put option agreement to acquire 100% of Cenexi Group for an equity value not exceeding €120 mn. The enterprise value of the same stands at €230 mn. The acquisition will be funded through internal accruals. Commenting on the deal, Srinivas Sadu, Managing Director and CEO of Gland Pharma, said during an analyst call earlier in the day: “Thanks to this deal, Gland would become one of the largest players in the CDMO space. This acquisition will not only help expand footprint but also accelerate product portfolio in the European market. The company (Cenexi) has a good manufacturing presence in Europe where Gland Pharma can release some of our own products. All manufacturing sites approved by FDA.” Founded in 2004, Cenexi, along with its subsidiaries, is engaged primarily in the business of contract development and manufacturing organization (CDMO) of pharmaceutical products with expertise in sterile liquid and lyophilized fully finished drugs, including capabilities on oncology and complex products. It has presence across four manufacturing sites in Europe which include three sites in France and one site in Belgium. It has experience in processing specific substances like hormones, suspensions and controlled substances. It has an employee strength of 1,372 including 1,252 employees across 4 manufacturing sites and 120 employees for services. Its revenue for CY21 stood at €184.1 million. Gland Pharma has a strategic focus on expanding its CDMO offerings in the European market and has been looking to build a manufacturing presence in the market. The acquisition provides Gland Pharma access to leading know-how and development capabilities in sterile forms including for ophthalmic gel, needleless injectors and hormones. Gland Pharma’s ability to support future investments in expanding manufacturing footprint will help build Cenexi as a major CDMO player in the European market. Gland and Cenexi can leverage their long- standing customer relationships to generate synergistic benefits for both entities along with helping Gland enter the branded CDMO space. According to Sadu, the proposed acquisition would be Gland Pharma’s first international acquisition, and it would support the company’s goal of deepening access into the European markets. This acquisition would help expand our global presence and further solidify Gland’s identity as an injectable focused CDMO company. He said: “Together, we see exciting synergy opportunities from leveraging our combined sterile expertise and development capabilities to expand our customer base and increase share of wallet. The acquisition will not only act as a sustainable lever for long term growth but would also establish a leading European platform to enrich our offering and increase value add to customers.” Cenexi is currently owned by a private equity investor, after the promoters sold out. Commenting on the proposed acquisition, Christophe Durand, CEO, Cenexi said: “We view the combination of Cenexi with Gland Pharma, as a natural partnership which would both, support our long-term strategy of becoming a top European sterile player and help us drive the next phase of growth and international expansion for Cenexi.” The proposed acquisition is subject to receipt of necessary regulatory approvals and satisfaction of certain conditions. The stock of Gland Pharma was also in the news as Fosun Pharma, the listed arm of the Chinese conglomerate <keyword id="1687700" type="General" weightage="50" keywordseo="fosun-international" source="Orion">Fosun International</keyword>, was looking to sell its controlling stake in Gland Pharma for an estimated $3.6 bn. At the time of publishing, shares of Gland Pharma were down 4.37% in morning trade after rallying on Tuesday. SEE ALSO <a href="https://www.businessinsider.in/india/news/government-listed-private-companies-capex-to-touch-21-lakh-crore-in-fy23-icici-securities/articleshow/95858117.cms">Capex cycle to touch ₹21 lakh crore in FY23, but there's a catch</a> <a href="https://www.businessinsider.in/finance/news/no-end-to-downgrades-in-gdp-estimates-as-economists-remain-divided-on-severity-of-slowdown/articleshow/95847763.cms">No end to downgrades in GDP estimates as economists remain divided on severity of slowdown</a>

Gland Pharma announces acquisition of Europe’s Cenexi Group for €120 mn, shares fall 4.37%

<ul><li>Gland Pharma, which debuted on the share market last year, has doubled its share price in a little over 6 months.</li><li>The IPO priced at ₹1,500 was subscribed twice over and the stock listed at a 20% premium to the issue price.</li><li>In the last three months alone, the company’s shares have surged by over 44%.</li></ul>Investors who stuck with Gland Pharma despite the ₹6,480 crore initial public offer (IPO) receiving a tepid response have reason to celebrate – their initial investment has doubled in a span of a little over 6 months. Shares of the pharma company rallied on May 18, surging by nearly 8%. The <keyword id="10219475" type="UNKNOWN" weightage="20" keywordseo="Gland-Pharma-share-price">Gland Pharma share price</keyword> was hovering around ₹3,011 at 11:00 am, more than ₹200 up from its previous closing price of ₹2,793. <div type="image" title="Gland Pharma 20_11_20 to 18_05_21." msid="82732400" hostid="261" caption="&amp;lt;p&amp;gt;Gland Pharma share price&amp;lt;/p&amp;gt;"></div> Gland Pharma was listed on the stock exchanges on November 20, 2020. Compared to the issue price of ₹1,500, this is a 100% gain till date. Nearly half of the surge in Gland Pharma’s shares has come after the slump on February 1 – since then, the share price has increased by over 44% till date. May alone has contributed to a 14% increase in the share price of the company, in the run up to its March 2021 quarter results. As a result of this rally, Gland Pharma’s total market capitalisation has crossed ₹45,000 crore. And there could be a further rally. “Gland Pharma reported a good set of numbers in Q4FY21, with good revenue growth in export as well as domestic market,” said a report by Angel Broking, adding that the company is capitalising on the demand for COVID-19 related products. A report by Kotak Institutional Equities Research highlighted the positives that outline Gland Pharma’s growth prospects. “Gland Pharma ended FY2021 on a strong note with new launches and expansion into other geographies driving robust revenue growth. A strong pipeline of products, healthy filing rate, entry into new markets, potential for increasing market share in recently launched products along with higher traction in Covid-related products provide solid medium-term growth visibility,” the report said. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Target price </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Upside </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹3280 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">9% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">BUY </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Share Khan </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹3040 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">1% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">BUY </td></tr></tbody></table> “Our ability to respond to changing market demands during COVID-19 was visible bearing the registered growth in markets of the U.S, Europe, Canada and Australia and back of new launches and volume growth in existing portfolio, supported by our increased capacity,” said Srinivas Sadu, chief executive at Gland Pharma. However, there are some concerns that could impact the company’s performance, so there could be wisdom in being cautious. “The company’s profitability and growth are very reasonable. It has 45-50% of its revenue coming from a few large clients, and that does present some kind of concentration risk. But just the breadth of the business allows the company to continue to do well,” Chakri Lokapriya, managing director at TCG Asset Management, <a href="https://economictimes.indiatimes.com/markets/expert-view/can-gland-pharma-stock-see-more-upside/articleshow/79338981.cms">told Economic Times</a> after Gland Pharma’s IPO last year. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/airtels-india-business-is-back-in-the-black-after-a-very-long-time/articleshow/82709100.cms">Airtel's India business is back in the black after a very long time</a> <a href="https://www.businessinsider.in/business/telecom/news/mukesh-ambanis-reliance-jio-is-making-less-money-off-its-subscribers-than-it-did-12-months-ago/articleshow/82331233.cms">Reliance Jio is making less money off its subscribers than it did 12 months ago</a> <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-responds-to-privacy-criticism-by-alleging-other-apps-like-zomato-ola-aarogya-setu-zoom-google-and-other-apps/articleshow/82570897.cms">WhatsApp responds to privacy criticism by alleging that other apps and tech companies also show disdain for user privacy</a>

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Gland Pharma to invest ₹400 Cr to expand its Telangana plant

PTI

Gland Pharma announces acquisition of Europe’s Cenexi Group for €120 mn, shares fall 4.37%

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A super hit IPO from 2020 has finally doubled investors' money

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