glenmark (UBS) Outlicenses GBR500 to Sanofi

Event: Glenmark outlicenses GBR500 to Sanofi Aventis; Impact: Upfront milestone payment and tiered royalty structure; Action: Raising PT and FY12 earnings estimate; Valuation: Maintain Buy, Raise PT to Rs 380 (from Rs 350)
Date Rating Target Price Recommendation Price Broker house
17 May 2011 buy 380 (from 350) 305 UBS Report

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