Incorporated on March 20, 1978 and promoted by Fosun Singapore and Shanghai Fosun Pharma, Gland Pharma Limited (“Gland Pharma”) is one of the fastest growing generic injectables-focused companies by revenue in the United States from 2014 to 2019.

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Gland Pharma sells its products primarily under a business to business (“B2B”) model in over 60 countries as of June 30, 2020, including the United States, Europe, Canada, Australia, India and the Rest of the world.

The company has an extensive track record in complex injectables development, manufacturing and marketing and a close understanding of the related sophisticated scientific, technical and regulatory processes.

Issue highlights:  

The size of the Issue is Rs 6445 cr –  Rs 6480 cr, number  of shares to be sold are 43,252,897 – 43,196,968 shares and the Face value of the share is 1. Gland Pharma is a Fresh Issue of Equity shares aggregating up to Rs 1250 Cr and Offer for sale of up to 34,863,635 Equity Shares. The price band is in the range of Rs 1490 – Rs 1500 and the bid Lot is 10 Shares and in multiple thereof. Post Issue the implied market cap of the company will be Rs 24337 cr – 24492 cr. Kotak Mahindra Capital, Citigroup Global, Haitong Securities and Nomura Financial are the Bankers to the issue. Link Intime India Pvt. Ltd is the registrar of the issue. Issue opens on Monday, 9 th Nov’2020 and Issue closes on Wednesday, 11 th Nov’2020.

Gland Pharma has focused on meeting diverse injectables needs with a stable supply of affordable and high quality products. They are present in sterile injectables, oncology and ophthalmics and focusing on complex injectables. Its delivery systems include liquid vials, lyophilized vials, pre-filled syringes, ampoules, bags and drops. They are expanding its development and manufacturing capabilities in complex injectables such as peptides, long acting injectables, suspensions and hormonal products as well as new delivery systems such as pens and cartridges.

As of June 30, 2020, Gland Pharma along with its partners had 267 ANDA filings in the United States, of which 215 were approved and 52 were pending approval.

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Gland Pharma has 7 manufacturing facilities in India, comprising 4 finished formulations facilities with a total of 22 production lines and 3 API facilities. As of June 30, 2020, they had manufacturing capacity for finished formulations of approximately Rs 75.5 crore units p.a.

Gland Pharma has a successful track record of operating a B2B model with leading pharmaceutical companies such as Sagent Pharmaceuticals Inc. and Apotex Inc. as well as Fresenius Kabi USA LLC and Athenex Pharmaceutical Division LLC in the United States and the Rest of the world.

The shares will be listed on BSE and NSE.