Gland Pharma Q1FY22 Revenue Rises 12% On New Launches, COVID Medication Remdesivir And Enoxaparin

 Gland Pharma Q1FY22 profit rises 12% on new launches, COVID drugs...

Gland Pharma | Consultant picture

Drug maker Gland Pharma on July 21 reported a 12 p.c year-on-year enhance in internet revenue to Rs 350.7 crore within the quarter ended June 30. The expansion in internet revenue was led by a mixture of new merchandise and quantity development in current merchandise, the corporate stated.

Gland Pharma, owned by China’s Fosun Pharma, within the corresponding interval of earlier the 12 months posted a internet revenue of Rs 313.6 crore. Income from operations rose 31 p.c YoY to Rs 1,153.9 crore in Q1FY22 versus Rs 884.2 crore in Q1FY21.

On a quarter-on-quarter (QoQ) foundation, the online revenue rose 35 p.c and revenues by 30 p.c.

The earnings earlier than curiosity, tax, depreciation and ammortisation (EBITDA) margin stood at 41 p.c in Q1FY22.

Gland’s key markets –the US, Canada, Europe and Australia

— registered a development of 16 p.c and accounted for 61 p.c of complete income throughout Q1FY22.

“This efficiency is pushed by development of key merchandise like Micafungin, Enoxaparin, Heparin, Dexmedetomidine and new product launches,” the corporate stated.

India accounted for 20 p.c or Rs 227 crore of Q1FY22 income, which witnessed a 77 p.c Y-o-Y development for the quarter.

“To help the home market requirement through the second wave of COVID-19, the corporate ramped up provide of important medication like Remdesivir and Enoxaparin,” Gland stated.

The remainder of the world markets have seen a sturdy development of 51 p.c consistent with the corporate’s elevated give attention to geographic growth.

“That is pushed by elevated penetration by forming new partnerships in numerous international locations,” Gland stated.

The full capex incurred through the quarter ended June 30, 2021, was Rs 1,857 million.

“Our execution functionality, be it uninterrupted business provides, undertaking commissioning or new product launches, is what underpins our sturdy efficiency on this quarter,” stated Srinivas Sadu, MD & CEO of Gland Pharma.

“It was an vital milestone for the corporate to launch our first set of Penem merchandise for the US market through the quarter,” Sadu added.

Gland stated a devoted suite for vaccine drug product fill-finish is now prepared for business manufacturing, whereas the tech switch for the drug substance manufacturing is ongoing.

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