Gland Pharma is a leading generic pharma company and subsidiary of Fosun, a giant Chinese pharma company. The track record of the company is very impressive given that even when entire industry was stagnating / declining due to intense pricing pressure in US generics market, Gland continued to display very good performance due to its focus on injectables; which are difficult to manufacture and therefore less competition. Moreover, backward integration and exemplary regulatory track record are key strengths. There are a few Covid related opportunities which the management is pursuing and should fructify from the next quarter. We have an over weight rating due to differentiated business model and growth potential
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