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Dolat Capital’s IPO Report
Glenmark Life Sciences (a spin-off from Glenmark Pharmaceuticals Ltd.), operates in two segments – generic active pharmaceutical ingredients (91% of sales) and contract development and manufacturing (8% of sales) with dominance in chronic therapies such as cardiovascular system and central nervous system.
It currently has 120 molecules and 65% of customer base which is repeat in nature.
Major customers are Glenmark Pharma (contributes 35% of sales), Torrent Pharma Ltd., Teva, Aurobindo Pharma Ltd. and Krka.
With 65% of revenue coming from U.S./Europe, Glenmark Life Sciences intends to expand presence in regions that are moving towards becoming well-regulated markets such as South Korea, Taiwan, Russia, Brazil, Mexico and Saudi Arabia.
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