Pharma major Glenmark Pharmaceuticals Ltd on Friday (July 31) reported a 930% year-on-year increase in consolidated net profit to ₹483 crore for the first quarter, compared with ₹47 crore in the corresponding quarter last year.
The company’s revenue rose 23% year-on-year to ₹4,018 crore, compared with ₹3,264 crore a year earlier.
At the operating level, earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 39% to ₹805 crore from ₹581 crore in the year-ago period. The EBITDA margin improved to 20%, compared with 17.8% a year ago.
India formulation business
Sales from Glenmark’s formulation business in India increased 15.5% year-on-year to ₹1,432.1 crore in the first quarter from ₹1,239.9 crore a year earlier.
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According to IQVIA, Glenmark’s India formulation business recorded 18.1% growth in secondary sales during the quarter, compared with 12.2% growth for the Indian Pharmaceutical Market (IPM). On a moving annual total (MAT) basis for June 2026, Glenmark grew 14.3%, compared with 10% for the IPM.
The company said it continued to record strong growth in its core therapy areas, including Dermatology, Respiratory, Cardiac and Oncology.
As per IQVIA MAT June 2026, Glenmark ranked 13th in the Indian pharmaceutical market with a 2.37% market share. It has 11 brands among the IPM’s Top 300 brands and ranks second in Dermatology, third in Respiratory and fourth in Cardiac therapies.
Consumer care business
Glenmark Consumer Care recorded primary sales of ₹155.8 crore, growing 28% year-on-year. Its flagship CANDID brand posted revenue growth of more than 30% across variants.
The SCALPE portfolio also grew by more than 30%, while BONTRESS serum recorded strong growth. The LA SHIELD portfolio registered mid-single-digit growth, and skincare brands ELOVERA and EPISOFT continued their growth trajectory.
North America
Revenue from North America increased 41.1% year-on-year to ₹1,097.4 crore from ₹778 crore. Excluding deferred out-licensing income recognition for ISB 2001, the region’s core business grew 19.8%.
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During the quarter, Glenmark launched nine products, including Methylene Blue Injection USP, Sodium Phosphates Injection USP, Vancomycin Hydrochloride for Injection USP, Olanzapine for Injection, Progesterone Vaginal Insert and Calcium Gluconate Injection USP. The company said it expects several additional approvals and launches during the second quarter of FY27.
Over the past six months, Glenmark strengthened its respiratory portfolio with approval for Fluticasone Propionate Inhalation Aerosol USP 44 mcg, receiving Competitive Generic Therapy (CGT) designation and becoming eligible for 180 days of exclusivity upon commercialisation. It also received approval for Fluticasone Propionate Nasal Spray USP 50 mcg (OTC).
The company has initiated end-to-end commercialisation of RYALTRIS in the United States and has filed two additional abbreviated new drug applications (ANDAs) for differentiated metered-dose inhaler products, including Fluticasone Propionate Inhalation Aerosol 110 mcg and Ipratropium Bromide Inhalation Aerosol.
Glenmark has built a portfolio of 20 commercial injectable products through partners. Its injectable manufacturing facility in Monroe, North Carolina, received an Establishment Inspection Report (EIR) with Voluntary Action Indicated (VAI) classification from the US Food and Drug Administration (USFDA) in November 2025, and the company re-launched Fulvestrant Injection from the facility during the quarter.
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As of June 30, 2026, Glenmark’s US portfolio comprised 225 authorised generic products, while 53 applications remained pending with the USFDA, including 26 Paragraph IV filings.
Europe
Revenue from Europe increased 11.9% year-on-year to ₹747.2 crore. The company said branded products continued to perform well across markets, particularly in the Respiratory and Dermatology segments.
Its respiratory portfolio gained market share across metered-dose inhalers and nasal sprays, while RYALTRIS continued to gain market share in countries where it has been launched. Glenmark currently has eight respiratory products commercialised in Europe and expects two to three additional launches over the next 12 to 18 months.
In Dermatology, WINLEVI continued to gain traction in the UK and has received marketing approval across European Union markets. The company also received approval for HILKOTA Foam in Nordic countries and plans to expand the portfolio further over the next 12 months.
Emerging Markets
Revenue from Emerging Markets, covering Russia, Commonwealth of Independent States (RCIS), Latin America (LATAM), Middle East and Africa (MEA), and Asia-Pacific (APAC), increased 27.7% year-on-year to ₹730.4 crore.
According to IQVIA MAT May 2026, Glenmark’s Russia business recorded 12% secondary sales growth and moved up to become the eighth-largest Dermatology company in the country.
The company said Latin America and the Middle East and Africa recorded strong growth during the quarter, while the respiratory portfolio continued to outperform the covered market across key emerging markets.
RYALTRIS remains the leading nasal spray for allergic rhinitis in most launch markets. Glenmark plans to launch the product in Brazil during the second half of FY27. The product has also been approved and launched in China and Thailand through regional partners.
Global innovative portfolio
As of June 2026, RYALTRIS marketing applications had been submitted in more than 90 countries, with the product commercialised in 57 markets. Glenmark expects launches in 10 additional markets over the next few quarters.
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The company and its China partner Grand Pharmaceutical (China) Co. Ltd. received approval for RYALTRIS in China in November 2025, followed by its commercial launch in March 2026.
Shares of Glenmark Pharmaceuticals Ltd ended at ₹2,238.50, up by ₹47.45, or 2.17%, on the BSE.
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Jomy Jos Pullokaran