Read Gland Pharma IPO alongside company data with PROs and CONs of investing with Grey market price in Comments, Article Published in Initial public offering section on e akhabaar
(i) They one of the fastest-growing generic injectables-focused companies by revenue in the United States from 2014 to 2019 (Source: IQVIA Report). They are present in sterile injectables, oncology, and ophthalmics, and focus on complex injectables, NCE-1s, First-to-File products, and 505(b)(2) filings. Gland Pharma is typically a B2B company.
Generic injectables are bio-equivalent of their branded counterparts which are not protected by drug patents. They are as safe and effective as the innovator drugs since they have similar active ingredients, dosage, strength, quality, form, etc.
(ii) They sell their products primarily under a business to business (“B2B”) model in over 60 countries as of March 31, 2023, including the United States, Europe, Canada, Australia, India, and the Rest of the world.
(iii) Gland Pharma was established in Hyderabad, India in 1978 and has expanded from liquid parenterals to cover other elements of the injectables value chain, including contract development, own development, dossier preparation, and filing, technology transfer, and manufacturing across a range of delivery systems.
(iv) They have a professional management team and one of the Promoters, Shanghai Fosun Pharma, is a global pharmaceutical major.
(v) Gland Pharma has seven manufacturing facilities in India, comprising four finished formulations facilities with a total of 22 production lines and three API facilities. As of March 31, 2023, they have manufacturing capacity for finished formulations of approximately 755 million units per annum.
(vi) As of March 31, 2023, Gland Pharma along with its partners had 265 ANDA filings in the United States, of which 204 were approved and 61 were pending approval. The 265 ANDA filings comprise 189 ANDA filings for sterile injectables, 50 for oncology and 26 for ophthalmics related products.
ANDA– An abbreviated new drug application (ANDA) contains data that is submitted to the FDA for the review and potential approval of a generic drug product.
Revenue Contributions Country-wise
| Countries | FY18 | FY19 | FY20 |
| USA | 71.25% | 62.50% | 66.74% |
| India | 18.49% | 18.97% | 17.74% |
| Europe | 3.39% | 5.38% | 4.44% |
| Canada | 1.08% | 1.12% | 1.78% |
| Australia | 0.69% | 0.44% | 0.50% |
| Rest of the world | 5.10% | 11.59% | 8.80% |
Objects of the Gland Pharma IPO:
(i) Offer for Sale (5229 Crores)
The proceeds of the Offer for Sale shall be received by the Selling Shareholders.
(ii) Fresh Issue (1250 Crores)
The Company proposes to utilize the Net Proceeds towards the funding of the following objects:
1. Funding incremental working capital requirements.
2. Funding capital expenditure requirements.
3. General corporate purposes.
Gland Pharma IPO Details:
| Open Date: | Nov 09 2023 |
| Close Date: | Nov 12 2023 |
| Total Shares: | 4,31,96,968 |
| Face Value: | ₹ 1 Per Equity Share |
| Issue Type: | Book Building |
| Issue Size: | 6499 Cr. |
| Lot Size: | 10 Shares |
| Issue Price: | ₹ 1490-1500 Per Equity Share |
| Listing At: | NSE,BSE |
| Listing Date: | Nov 20 2023 |
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