Why is Alembic missing the first global semaglutide launches?
“We are late into the semaglutide market internationally, at least in the first wave. But if there is an opportunity, we will get in during the second phase,” G Krishnan, chief financial officer, Alembic Pharmaceuticals, told Business Standard during a post-results call. For India, the company is looking at partnering with manufacturers to ensure faster market entry, he said, adding that timing was a key consideration.
How did Alembic perform in Q3FY26?
This came as Alembic reported a 4 per cent decline in its consolidated net profit for the third quarter of the financial year (Q3FY26) to Rs 131.9 crore from Rs 137.70 crore in the year-ago period, largely due to a one-time Rs 42-crore provision related to changes under the new labour code.
What drove revenue growth despite the profit dip?
However, revenue from operations grew 11 per cent year-on-year to Rs 1,876.31 crore, compared with Rs 1,692.74 crore a year earlier.
“The decline in reported profit is optical. Core margins have improved by nearly 200 basis points year-on-year,” he said.
How is the US generics business shaping up?
The company’s US generics business grew 6 per cent despite continued pricing pressure in the market. Krishnan said price erosion in the US remains in the low-to-mid single digits, with no meaningful easing visible yet. Growth was driven by new product launches and volumes, partly offsetting pricing pressure.
What role are new launches and capacity additions playing?
Alembic continues to launch three to four products every quarter in the US, with new launches accounting for around 70 per cent of annual growth, the management said. Capacity additions in injectables, pre-filled syringes and ophthalmics are also beginning to contribute a larger share of revenues.
Where is Alembic focusing its R&D efforts?
On research and development, Alembic maintained its R&D spend at around 9 per cent of revenue, with increasing focus on injectables, ophthalmology, dermatology and peptide-based products. The company confirmed it is actively developing peptide molecules, including work related to semaglutide, though timelines were not disclosed.
Which geographies drove growth during the quarter?
Geographically, growth during the quarter was broad-based, with Europe, Canada and Australia emerging as key contributors, driven largely by volume expansion and the rollout of products already approved in the US.
What is Alembic’s outlook for FY26 and beyond?
Alembic reiterated its FY26 revenue growth guidance of 10–12 per cent, while refraining from offering guidance for FY27. “There is enough opportunity across domestic and international markets, but we will guide when we get closer,” Krishnan said.
The results were announced during market hours. Alembic shares ended 1.41 per cent higher at Rs 809 on the BSE.
 "Alembic Pharmaceuticals (Photo: Company website)")