Gland Pharma Q1 profit jumps 50% on core growth, Cenexi turnaround

Hyderabad-based Gland Pharma reported a 50 per cent increase in its consolidated net profit year-on-year (Y-o-Y), reaching ₹215 crore for the first quarter of the financial year (Q1FY26). Revenue from operations rose 7 per cent Y-o-Y to ₹1,505 crore.

 

The growth was driven by robust performance in its core business and a successful turnaround at Cenexi, a French pharmaceutical contract development and manufacturing organisation (CDMO) specialising in sterile injectable and lyophilised drug products, which Gland Pharma acquired in 2023.

 

Sequentially, the company’s net profit rose by 15 per cent, and revenue increased by 6 per cent.

 

“We're off to a positive start this year with growth in revenue and a jump in profitability. Our strategic priorities are progressing and we are strengthening our capabilities, adding new capacity, and boosting R&D with complex products and key partnerships,” said Srinivas Sadu, executive chairman, Gland Pharma.

 

 

“By enhancing our base business, investing in differentiated products and driving operational efficiencies, we are positioning ourselves for sustained growth. Our focus on adherence to global quality standards and investment in capability building position us to scale further, tap new markets and deliver long-term value,” said Shyamakant Giri, chief executive officer, Gland Pharma.

 

During the quarter, research and development (R&D) expenses stood at ₹46 crore, accounting for 4.4 per cent of revenue.

 

The company launched 12 new molecules in regulated markets, including Colistimethate, Epinephrine, Vancomycin (three new strengths), Liraglutide and Acetaminophen bags.

 

One abbreviated new drug application (ANDA) was filed and nine were approved during the quarter, bringing cumulative US ANDA filings to 372 (325 approved and 47 pending).

 

Its in-house complex pipeline saw six product launches, with three more awaiting approval. Complex injectables remain a key driver of long-term growth, with more products being added to the pipeline.

 

Fifteen products are in co-development (seven under the 505(b)(2) pathway and eight ANDAs), with commercialisation expected to begin in FY28.

 

One ready-to-use (RTU) infusion bag was filed this quarter, bringing the total RTU product filings in the US to 20 (14 approved). Another 10 are in development, targeting a $767 million market.

 

The company expanded its GLP-1 portfolio, launching Liraglutide in the UK and Australia, and is increasing GLP-1/pen/cartridge capacity from 40 million to 140 million units.

 

It also received a good manufacturing practice (GMP) compliance certificate from the Danish Medicines Agency for aseptically prepared powder for injection, infusion and inhalation.

 

The results were announced after market hours. Gland Pharma’s stock fell by 0.95 per cent, ending the day’s trade at ₹1,962.30 per share on the BSE.