Gland Pharma shares rose nearly 5 percent on February 25, its best day in 16 weeks, ahead of its investor meet during the analyst day with Emkay and BOB Capital on February 27-28.
Business daily Livemint had reported in February quoting sources that Blackstone, Brookfield and Warburg Pincus were in talks to acquire a majority stake in generic injectables maker Gland Pharma.
The deal between the three global private equity majors and Shanghai-based Fosun Pharma – which owns a majority stake – is expected to value Gland Pharma at around $3 billion.
Gland Pharma’s performance in the December quarter has been disappointing, with revenue growth in its core business being weak. The injectables company also faced challenges from its recently acquired Senexi business, which impacted its performance.
Gland Pharma expects a recovery in its core business in the fourth quarter of FY25, but has extended the breakeven timeline for Senex by another year. Gland Pharma reported an 11 percent year-on-year rise in net profit to Rs 98 crore for the December quarter. Its revenue from operations saw a nearly 38 percent year-on-year growth at Rs 1,271 crore, while total income rose to Rs 1,343 crore.
Gland Pharma is a global supplier of drugs delivered through vials, syringes, sachets and pumps, with a large portion of its exports driven by the US.
According to forecasts, the US is expected to see a 10 percent growth in annual demand for injectables over the next five years.
