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Gland Pharma’s consolidated net profit declined 26 per cent to ₹143.8 crore in the first quarter ended June 30 against ₹194 crore in the corresponding quarter of the previous financial year. The revenue of the Hyderabad-based company increased 16 per cent to ₹1,401 crore compared to ₹1,209 crore in the year ago period.
““We reached ₹1,401 crore in total revenue, a 16 per cent increase from Q1FY24. This growth aligns with our projections and is primarily driven by the US market, which saw a 27 per cent revenue increase led by existing and certain new products,’‘ Srinivas Sadu, Executive Chairman and CEO, Gland Pharma, said in a release.
“Our base business EBITDA margins were at 29 per cent and consolidated EBITDA margins for the quarter were 19 per cent mainly affected by Cenexi. We’re confident in our ability to meet our fiscal year goals,’‘ he added.
Biologics facility
The company’s biologics facility in Genome Valley is attracting advanced-stage interest from multiple players for contract manufacturing of monoclonal antibodies and novel plasma-based proteins.
“In addition, we are in discussions with a leading biologics company for a potential strategic collaboration,’” he said. The proposed collaboration could involve large-scale contract manufacturing of key biosimilars, with a possible in-licensing opportunity for Gland in specific markets of interest.
“Although this discussion is in the early stages, it represents promising avenues for Gland to maximise its value in both CDMO and complex portfolio expansion,” he said.
During the quarter, Glad Pharma launched eight molecules, including Eribulin mesylate, Plerixafor, Nelarabine, and Edaravone in the US market. It filed nine products in China till date, of which three have been approved and one has been commercialised.
The USFDA made two surprise inspections of its manufacturing sites in Hyderabad. The inspections concluded with two and three form 483 observations at Dundigal and Pashamylaram respectively. The drug-maker said these observations were `procedural and do not affect its compliance status.
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