In this blog, we will share our spotlight on Gland Pharma Ltd.
Gland Pharma Ltd. – Highlights
Gland Pharma Ltd. is trading at Rs 3063.85, up by 9.70% on the BSE. The stock is up 25.09% in last three months as compared to a 2.20% drop in S&P Bse Sensex.
The rally in the stock is due to its fantastic Q4 FY 2021 results reported on the exchanges on Monday.
The Hyderabad-based pharma company posted a net profit of ₹260.41 crore for the Q4 FY 2021, up by 33.69 % against ₹194.79 crore it logged during the Q4 FY 2020.
For the fiscal year ended March 31, 2021, the company reported a profit of 996.96 crore, a 29 % increase over the previous year’s profit of 772.86 crore, and income of 3,462.88 crore, a 31.5 % increase over the previous fiscal’s income of 2,633.24 crore.
In a regulatory filing, Gland Pharma’s MD and CEO, Srinivas Sadu, stated, “Overall, the business has performed well and grown steadily during these challenging times.” New product launches, volume growth in existing portfolios, and geographic expansion have all contributed to strong business growth across all markets. Our new Vaccine business will help us accelerate our long-term strategy of entering the Biosimilar space.”
The company has introduced new products such as Micafungin and Bivalirudin in Ready-to-Use form, as well as Olapatadine, an ophthalmic product in the market.
The company has increased Remdesivir supply while maintaining adequate Enoxaparin supply to meet the needs of Covid-19 patients.
The Company filed 21 ANDAs (abbreviated new drug applications), 5 DMFs (Drug Master File), and received 32 ANDA approvals during the fiscal year ended March 31, 2021.
As at March 31, 2021, the Company has filed total 284 ANDAs, out of which 234 were approved and 50 are pending for approval.
The company is expanding its Hyderabad-based sterile injectable facility. It is also expanding its API production capacity in Vizag and expanding capacity in its oncology facility to meet the planned launches in the coming years. Furthermore, the company will invest in the drug substance and biologics facility in order to build a strong infrastructure in the vaccine and bio-similar space.
Founded in 1978 in Hyderabad, India, Gland Pharma has evolved from a contract manufacturer of small volume liquid parenteral products to one of the world’s largest and fastest growing injectable-focused companies, with a global footprint spanning 60 countries, including the United States, Europe, Canada, Australia, India, and other markets.
It primarily operates under a business to business (B2B) model and has an excellent track record in the development, manufacturing and marketing of complex injectables. This presence throughout the value chain has greatly aided in the company’s exponential growth. Shanghai Fosun Pharma, a global pharmaceutical conglomerate, is the company’s promoter.