The uptick in Gland Pharma share came after the company said that it has received approval from the United States Food and Drug Administration (US FDA) for Latanoprost Ophthalmic Solution
Individually, Cipla soared up to 3.68 per cent to hit an intraday high of Rs 1,547.70 per share, while Sun Pharma soared up to 3.30 per cent to hit an intraday high of Rs 1,791.60 per share
Analysts are downgrading optimistic EPS estimates for FY25 and FY26, due to continuing slowdown in US sales and a temporary issue at Cenexi's site in Belgium
Despite increased EBITDA loss at Cenexi, the overall consolidated EBITDA margin was better-than-expected at 21.1%, led by better segmental mix and controlled operational cost for the quarter.
The company reported consolidated net profit of Rs 164 crore ($19.5 million) for the quarter ended Sept. 30, a 15.7 per cent decrease from the year-ago period
The Nifty MidCap index has gained 3% from its recent low in the last three days. Amid this these 8 stocks have seen key momentum oscillators turn favourable on the daily chart.
The share price fell after the company reported a weak set of June quarter (Q1FY25) results.
The decrease in the group's consolidated Ebitda margin is being attributed to the negative Ebitda reported by Cenexi, its recent acquisition
The inspection at the Hyderabad facility took place between July 25, 2024 and August 02, 2024.
Fosun Pharma, one of the promoters of Gland Pharma, on Wednesday divested a 6 per cent stake for Rs 1,754 crore through an open market transaction. Chinese drug firm Fosun Pharma, through its arm Fosun Pharma Industrial Pte, offloaded the shares of Hyderabad-based Gland Pharma through a bulk deal on the BSE. According to the bulk deal data available on the BSE, Fosun Pharma Industrial Pte disposed of 99 lakh shares or a 6 per cent stake in Gland Pharma. The shares were sold at an average price of Rs 1,771.81 apiece, taking the deal size to Rs 1,754.09 crore. After the stake sale, Fosun Pharma's shareholding in Gland Pharma has declined to 51.86 per cent from 57.86 per cent. Meanwhile, UBS Principal Capital Asia picked up 8.25 lakh shares, amounting to a 0.5 per cent stake in Gland Pharma. The shares were purchased at an average price of Rs 1,771.05 per piece, taking the transaction value to Rs 146.11 crore. Details of the other buyers of Gland Pharma's shares could not be ...