Onesource Specialty Pharma up 5% in weak market; rallies 21% in one week

Onesource Specialty Pharma share price edged higher by 5 per cent to ₹1,861.1 on the BSE in Friday’s intra-day trade in otherwise a weak market. At 1:34 PM, the stock was quoting 4 per cent higher at ₹1,833.05. In comparison, the BSE Sensex was down 1.5 per cent at 76,559.

 

In the past one week, the stock price of the pharmaceutical company has outperformed the market by soaring 22 per cent, as against a 2.5 per cent decline in the benchmark index.  The stock has bounced back 73 per cent from its 52-week low level of ₹1,075 touched on January 30, 2026.

 

Orbicular’s partner secures tentative US ANDA approval for the generic version of Ozempic

On April 21, 2026, OneSource Specialty Pharma announced that its partner Orbicular Pharmaceutical Technologies (Orbicular), together with its US-based front-end partner (the ANDA holder), had secured tentative US Food and Drug Administration (FDA) approval for an Abbreviated New Drug Application (ANDA) for a generic version of Ozempic (Semaglutide Injection). OneSource is the contract development and manufacturing organization (CDMO) partner for this product.

 

Orbicular led the product development and technical program for this complex peptide, while OneSource supported the program as the CDMO partner, providing end-to-end manufacturing capabilities for the U.S. market filing. The collaboration is designed to ensure reliable commercial supply from OneSource’s US-FDA approved flagship site in Bangalore, the company said.

 

OneSource Specialty Pharma is a pure-play specialty pharmaceutical CDMO. The company focuses on the development and manufacturing of complex pharmaceutical products, including biologics, drug-device combinations, sterile injectables, and oral technologies (soft gelatin capsules).  CHECK Stock Market LIVE Updates

CareEdge ratings rationale on OneSource Specialty Pharma

OneSource Specialty Pharma is a multi-modality CDMO platform, with offerings in Drug Device Combinations (DDC), including GLP-1, biologics, SGC business, and sterile injectables. While the company had existing capabilities in DDC and Biologics, the soft gel business (SGC) and sterile injectable businesses were carved out from other promoter group companies and merged in the company in FY25.

 

With pickup in milestone incomes from Manufacturing Service Agreements for its CDMO business and the integration of Strides SGC business and Steriscience Specialties Private Limited’s injectables business, the company reported total operating income (TOI) of ₹1,445 crore in FY25 (FY24: ₹173 crore) and a healthy profit before interest, lease rentals, depreciation, and taxation (PBILDT) margin of 32 per cent.

 

In 9MFY26, the company reported TOI of ₹993 crore (9MFY25: ₹1,019 crore), at a PBILDT margin of 21.37 per cent (9MFY25: 27.87 per cent). Despite steady-state contributions from SGC and sterile injectables business, the company’s revenue and profitability declined on a Y-o-Y basis. 

 

The shortfall was primarily driven by a weak Q3FY26, where delays in regulatory approvals for semaglutide for key Canadian customers resulted in the deferment of planned deliveries. Additionally, to prioritise capacity for upcoming commercial supply agreements (CSAs), the company consciously chose not to onboard new MSA contracts in Q3FY26. The lower revenue and a predominantly fixed cost structure led to a sharp decline in PBILDT margin as well, especially in Q3FY26, the rating agency said.

 

Stable outlook reflects CareEdge Ratings’ expectation that the company will continue to derive strength from the existence of experienced promoters and positive outlook for the GLP 1 segment, which is expected to yield revenue to the company from FY27 onwards, it added.  ======================================= 

Disclaimer: View and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers discretion is advised.