Gland Pharma gains 5% on consistent Q2 performance

7 Nov 2023 , 01:42 PM

A day after Gland Pharma released consistent third-quarter profits, the company’s shares shot up more than 5% on November 7. Despite a 20% year-over-year decline in net profit to Rs 194 crore, the company’s operating revenue increased by 32% to Rs 1,373 crore, mostly due to stronger sales following the January acquisition of the French pharmaceutical group Cenexi.

The pharmaceutical company’s operations in India and its core regions performed better than expected, with certain important goods seeing a normalization.

Analysts claim that Gland Pharma’s core business is performing exceptionally well and is back on track. 

One FTF product has already been filed, and the business plans to submit at least two more to regulatory bodies in the near future as it continues to expand its sophisticated range. According to Motilal Oswal, it has also enlarged its facility for the portfolio of plasma proteins.

For feedback and suggestions, write to us at [e-mail]