Gland Pharma

Gland Pharma Ltd on Monday reported a 15 per cent decline in consolidated net profit at Rs 231.95 crore for the third quarter ended December 2022, impacted by production delays due to supply disruptions. The company had posted a consolidated net profit of Rs 273.03 crore in the same period last fiscal, Gland Pharma said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 938.29 crore as against Rs 1,063.33 crore in the year-ago period. Total expenses in the third quarter were lower at Rs 688.95 crore as compared to Rs 743.43 crore in the same period a year ago. "Challenging business environment, ongoing supply chain disruptions leading to production delays continue to impact our performance," Gland Pharma Managing Director and CEO Srinivas Sadu said. The company's core markets US, Europe, Canada, Australia, and New Zealand accounted for 70 per cent of revenue during the quarter, maintaining a similar level of revenue contributio

Drug firm Gland Pharma on Friday said it has inked a pact with FPCI Sino French Midcap Fund to acquire 100 per cent stake in Europe-based Cenexi Group. Gland Pharma International PTE, a Singapore-based wholly owned subsidiary of the company, has entered into a share purchase agreement with FPCI Sino French Midcap Fund to fully acquire stake in Cenexi pursuant to the terms of the put option agreement inked in November last year. On November 29, 2022, the Hyderabad-based drug contract development and manufacturing company (CDMO) had entered into a put option agreement to acquire Cenexi Group for up to EUR 120 million (around Rs 1,015 crore), marking its foray into the international markets. Under the put option, an entity gets the right not obligation to sell a specified amount or stake at a predetermined price. Founded in 2004, Cenexi, along with its subsidiaries, is engaged primarily in the business of contract development and manufacturing organisation (CDMO) of pharmaceutical ...

With the acquisition, Gland pharma may also get access to global companies like AstraZeneca, Sanofi, Mylan, and Organon

Lack of near-term visibility on profitability for the core business is another concern about Indian firm

The acquisition provides Gland Pharma access to leading know-how and development capabilities in sterile forms including for ophthalmic gel, needleless injectors and hormones, the company said

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Fosun Pharma, a listed arm of Chinese conglomerate Fosun International Ltd., has been working with an adviser as it informally gauges interest in its controlling stake in Gland, the people said

Will fund transaction from internal accruals

Fosun Pharma, a listed arm of Chinese conglomerate Fosun International Ltd., has been working with an adviser as it informally gauges interest in its controlling stake in Gland

The injectable manufacturing company expects the margin pressure to persist due to cost pressures and negative operating leverage.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) margin contracted 150 bps to 33 per cent from 38 per cent in a year ago quarter.

Gland Pharma Ltd on Wednesday reported a 20.14 per cent decline in consolidated net profit at Rs 241.24 crore for the second quarter ended September 30, on lower sales and higher expenses. The company had posted a consolidated net profit of Rs 302.08 crore in the same period last fiscal, Gland Pharma said in a regulatory filing. The consolidated revenue from operations during the period under review were at Rs 1,044.4 crore, as against Rs 1,080.47 crore in the year-ago period, it added. Total expenses were higher at Rs 785.95 crore, as compared to Rs 731 crore in the same period a year ago, the company said. Gland Pharma said revenue from its core markets of US, Europe, Canada and Australia grew by 3 per cent to Rs 747.5 crore in the second quarter, as against Rs 722.5 crore in the corresponding period last fiscal. However, India revenue was down 42 per cent at Rs 72.6 crore, as compared to Rs 125.8 crore in the year-ago quarter, while the same for the 'rest of the world' market w

According to the technical analyst from Anand Rathi, Gland Pharma can rally to Rs 2,350, while IOC can spurt to Rs 83.

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The low margin syringes business was impacted by supply chain challenges and shutdown of two manufacturing lines in the domestic market

Q1 profit after tax tumbled 35 per cent YoY and 20 per cent QoQ to Rs 229 crore, due to lower operational income

Stock market live updates: At 7:25 AM, the SGX Nifty Futures quoted at 16,512 levels, indicating a gap-up of 172 odd-points.

Target prices post brokerage upgrades point to more upsides

At 09:15 AM; around 5.42 million equity shares, representing 3.3 per cent of total equity of Gland Pharma, changed hands on the BSE

Gland Pharma on Friday posted a 34 per cent increase in its consolidated profit after tax at Rs 273 crore for the third quarter ended December 31, 2021, riding on robust sales across various markets. The Hyderabad-based drug maker had reported a profit after tax (PAT) of Rs 204 crore in the corresponding period of the previous fiscal. Revenue from operations rose to Rs 1,063 crore in the October-December period of the current fiscal as against Rs 859 crore in the same period of 2020-21 fiscal, Gland Pharma said in a regulatory filing. "While our key market US grew by 23 per cent during the quarter, our focus on geographical diversification is showing robust results with a y-o-y growth of 88 per cent in the Rest of the World markets during the quarter," Gland Pharma MD & CEO Srinivas Sadu noted. In alignment with strategic priorities, the company has completed four complex injectable filings and a total of 18 ANDA filings during the quarter, he added. "We are starting this new year