GLAND

Aug 12 (Reuters) - Gland Pharma Ltd GLAD.NS:

• RECEIVES USFDA APPROVAL FOR CANGRELOR INJECTION

Source text: ID:nNSE67cj5J

Further company coverage: GLAD.NS

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July 11 (Reuters) - Gland Pharma Ltd GLAD.NS:

• RECEIVES GMP COMPLIANCE CERTIFICATE FROM DANISH AGENCY

• PASHAMYLARAM FACILITY RECEIVES GMP COMPLIANCE FROM DANISH MEDICINES AGENCY

Source text: ID:nNSE1q7sTy

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** Gland Pharma's shares GLAD.NS up nearly 2% to 1,618 rupees

** Co gets approval from U.S. Food and Drug Administration for "Angiotensin II Acetate Injection" that would help increase blood pressure in adults

** Eligible for 180 days of generic drug exclusivity - co

** Analysts, on avg, rate GLAD "hold", median PT 1,575 rupees - data compiled by LSEG

** Day's move cuts stock's YTD decline to 9%

(Reporting by Hritam Mukherjee in Bengaluru)

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** Indian pharma companies .NIPHARM climb 1.7%, the most among 13 major sectors

** Nineteen of 20 stocks on index trading higher, with Gland Pharma GLAD.NS leading gains with 4% jump

** U.S. Department of Health and Human Services (HHS) says it expects every drugmaker to align U.S. prices for branded drugs, without generic or biosimilar competition, with the lowest prices in peer countries

** "The HHS order provides relief to generic drugmakers as it talks about price cuts only for branded drugs, indicating that generics will most likely not be affected," Shrikant Akolkar, analyst at Nuvama, says

** Mehul Shah, analyst at HDFC Securities, says order "big relief" especially for biosimilars and generic drug makers

** Cipla CIPL.NS, Dr Reddy's REDY.NS, Sun Pharma SUN.NS up ~2% each; Biocon BION.NS adds 1.6%

** Pharma stocks fell 2% on May 12 after Donald Trump signed order to cut prescription drug prices

(Reporting by Kashish Tandon and Vivek Kumar M in Bengaluru)

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Adds analyst comments in paragraphs 11-12, updates share moves throughout

By Manas Mishra and Ananta Agarwal

April 9 (Reuters) - Global drugmakers' stocks dropped across the board after U.S. President Donald Trump reiterated plans for a "major" tariff on pharmaceutical imports, threatening an interwoven global supply chain, and as his country-specific reciprocal tariffs took effect, leading to more pain in global markets.

Pharmaceutical imports were initially exempt from Trump's first set of reciprocal tariffs last week — but his administration has since indicated that levies on the sector, which in the past has been excluded from such actions, are coming.

The U.S. president has said the tariffs will incentivize drug companies to move operations to the United States. However, analysts and companies have raised concerns about the difficulty in setting up manufacturing in the country.

Shares of major U.S. drugmakers Amgen AMGN.O, AbbVie ABBV.N, Pfizer PFE.N, Merck MRK.N and Eli Lilly LLY.N fell between 3% and 6% in premarket trading.

In Europe, a basket of healthcare stocks .SXDP fell 5% to its lowest since October 2022, leading losses among sectoral indexes on the region-wide STOXX 600 .STOXX, which was down 3.3% at 1013 GMT. The index was heading for its biggest one-day drop since March 2020.

Trump had also threatened the duties on Friday after his first set of "reciprocal" tariffs exempted pharma products. Trump has not said when and by how much he plans to raise levies on pharma imports.

"While the details are scant, we are strongly opposed to tariffs on any pharmaceuticals — these will likely do little to shift manufacturing back to the U.S.," said BMO Capital Markets analyst Evan Seigerman.

"Given the complexity of the pharma supply chain, we do not expect the industry to make any major changes. These current tariffs are being pursued under emergency powers, which at worse will last until the end of the current administration and could end sooner with an act of Congress."

Seigerman also pointed to concerns over recent layoffs at the U.S. Food and Drug Administration, saying the worries were now compounded by the "real talk" of pharma tariffs.

ADDITIONAL COSTS, LONG WAIT FOR PRODUCTION

Europe and the U.S. have interconnected supply chains for medicines. The United States depends on medicines partly produced in Europe that bring in hundreds of billions of dollars in revenue.

Bernstein analyst Courtney Breen wrote in a note that her worst-case scenario assumes tariffs could be steep, leading to about $53 billion in additional costs paid for pharmaceutical imports.

If companies did choose to bring new manufacturing to the United States, Breen expects additional spend of $2 billion for each new "green field" site and a five-year runway to production.

EU medical and pharmaceutical product exports to the U.S. totaled about 90 billion euros ($97 billion) in 2023, according to latest Eurostat data.

Shares of AstraZeneca AZN.L, GSK GSK.L, Roche ROG.S, Sanofi SASY.PA and Novartis NOVN.S fell between 5% and 6.5% in Europe. Meanwhile, Indian pharmaceutical stocks .NIPHARM closed nearly 2% lower, dragging down the benchmark Nifty 50 .NSEI by 0.6%.

IPCA Laboratories IPCA.NS, Glenmark Pharma GLEN.NS and Biocon BION.NS were the top losers by percentage on the pharma index in Mumbai, ending the trading session between 4% and 5.5% lower.

India's pharma exports to the U.S. mostly comprise generics, or cheaper versions of popular drugs. The United States accounts for a third of India's overall pharma exports.

(Reporting by Kashish Tandon, Ananta Agarwal and Manas Mishra in Bengaluru and Anna Pruchnicka in Gdansk; Editing by Savio D'Souza, Mrigank Dhaniwala and Shounak Dasgupta)

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Updates

** Nifty pharma index .NIPHARM up 2.3% in afternoon trade after U.S. President Donald Trump exempts the sector from reciprocal tariffs for now

** Pharma is the top performer by percentage among the major sectoral indexes

** Trump imposed 26% reciprocal tariffs on Indian imports as part of his wider plan to levy a 10% baseline tariff on all imports from April 5, but the duties do not apply to certain goods, including pharmaceuticals

** The United States accounts for nearly a third of Indian pharmaceutical exports

** Although the exemption may be temporary, pharma stocks focused in U.S. market have already priced in ~10% tariff and may rebound, CLSA analysts say

** India's pharma industry may be spared, as U.S. concerns seem more focused on Ireland's tax policies and manufacturing reliance on Ireland and China - Jefferies

** Dr. Reddy's REDY.NS, Cipla CIPL.NS, Sun Pharma SUN.NS, Gland Pharma GLAD.NS jump 6.1%, 4.1%, 4.1% and 11.7%, respectively

** 19 of the 20 index constituents trading higher, benchmark Nifty 50 .NSEI down 0.31%

(Reporting by Manvi Pant in Bengaluru)

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** Gland Pharma GLAD.NS rises 2.4% to 1,622.85 rupees

** Global investor Vanguard's two funds buy ~1.9 mln shares, aggregating to 1.13% stake in the drug maker at 1,588.69 rupees, NSE data shows

** GLAD top gainer on pharma index .NIPHARM, which is trading flat

** Stock down 9% YTD vs NIPHARM's 7.7% decline

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Indian equities set for inflows of up to $1.4 billion on Friday as FTSE March semi-annual rebalancing to come into effect, per analysts

** ICICI Bank ICBK.NS will be the biggest beneficiary, to see inflows worth $426.9 million from weight increases by FTSE, MSCI and BSE, says IIFL

** Large inflows in ICBK due to merger between bank and ICICI Securities ICCI.NS, whose shares will trade for the last time on Friday

** ICCI shareholders to get 67 ICBK shares per 100 shares of ICCI

** Kotak Mahindra Bank KTKM.NS to see $146 million inflows as FTSE increases weight, says Nuvama

** FTSE adds 360 ONE WAM ONEW.NS, Bajaj Housing Finance BAJO.NS, BSE BSEL.NS and other stocks to FTSE All World Index

** Stocks that might see inflows due to FTSE rebalancing include Zomato ZOMT.NS, ITC Hotels ITCT.NS, Gland Pharma GLAD.NS and BAJO

(Reporting by Vivek Kumar M)

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Feb 25 (Reuters) - Gland Pharma Ltd GLAD.NS:

• GLAND PHARMA - CONCLUSION OF US FDA INSPECTION AT COMPANY’S JNPC FACILITY, VISAKHAPATNAM

• GLAND PHARMA - INSPECTION WAS CONCLUDED WITH THREE FORM 483 OBSERVATIONS

Source text: [ID:]

Further company coverage: GLAD.NS

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** Shares of Gland Pharma GLAD.NS fall ~3.3% to 1462.8 rupees

** Co's Q3 revenue falls 10.4% on production setbacks at French unit Cenexi's site near Paris

** Cenexi sales down due to regulatory inspections, breakeven now pushed back by a year vs Q3 target

** Jefferies says Cenexi "continued to bleed" and India and US saw the biggest sales disappointment in Q3

** InCred Equities cuts to 'sell' from 'hold' on "repeated delays in Cenexi's turnaround"

** Citi retains 'sell' on GLAD's inablity to optimize its 'world class' injectables manufacturing set-up

** 10 analysts avg rating is 'hold', avg PT is 1671 rupees, implying ~13.5% upside to current price -LSEG data

** Including session's decline, stock down 27% in last 12 months

(Reporting by Ananta Agarwal in Bengaluru)

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Feb 3 (Reuters) - Gland Pharma Ltd GLAD.NS:

• Q3 CONSOL NET PROFIT 2.05 BILLION RUPEES; IBES EST. 2.04 BILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 13.84 BILLION RUPEES; IBES EST. 15.69 BILLION RUPEES

Further company coverage: GLAD.NS

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Jan 16 (Reuters) - Gland Pharma Ltd GLAD.NS:

• RECEIVED ESTABLISHMENT INSPECTION REPORT FROM US FDA FOR DUNDIGAL FACILITY

Source text: [ID:]

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Jan 15 (Reuters) - Gland Pharma Ltd GLAD.NS:

• SHYAMAKANT GIRI WILL ASSUME THE OFFICE OF CHIEF EXECUTIVE OFFICER

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Dec 25 (Reuters) - Gland Pharma Ltd GLAD.NS:

• GLAND PHARMA - ANSM INSPECTION AT CENEXI'S FONTENAY MANUFACTURING FACILITY

• GLAND PHARMA LTD - CENEXI'S FONTENAY FACILITY RECEIVES 10 OBSERVATIONS FROM ANSM

Source text: ID:nBSEbCwXW2

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** Shares of generic injectables maker Gland Pharma GLAD.NS rise 2% to 1,810 rupees in early trade

** Stock among top gainers on Nifty Pharma index .NIPHARM which is up 0.19%

** Co gets approval from U.S. FDA for phytonadione injectable emulsion, which is used to treat coagulation disorders caused by vitamin K deficiency or interference with vitamin K activity

** Co expects to launch the drug in the near future

** Avg rating on stock is a "hold," among 10 stocks on pharma index with this rating; median PT is 1,800 rupees - LSEG data

** Day's gains erase weekly loss, stock now up 2% this week

(Reporting by Ashna Teresa Britto in Bengaluru)

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Dec 3 (Reuters) - Gland Pharma Ltd GLAD.NS:

• RECEIPT OF US FDA APPROVAL FOR LATANOPROST OPHTHALMIC SOLUTION, 0.005%

• EXPECTS TO LAUNCH THIS PRODUCT THROUGH ITS MARKETING PARTNERS IN FY25

Source text: ID:nNSE85dvSv

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** Gland Pharma Ltd GLAD.NS shares jump nearly 10% to 1,770 rupees, set for their best day since August 2023

** Kotak Institutional Equities upgrades drugmaker's stock to "reduce" from "sell"; stock saw a 24% slump over the last three months

** Brokerage says GLAD's Q2 earnings show slump has likely bottomed out, sees sales growth for core business and French unit Cenexi recovering gradually

** Kotak's PT of 1,625 rupees is second-highest among analysts tracking stock - LSEG data

** Investec, Motilal Oswal retain "buy"; Motilal sees earnings growing 20% CAGR between FY25-27 after two years of decline

** Around 2.7 mln shares traded, 11x stock's 30-day avg volume

** Analysts tracking GLAD rate it "hold" on avg - LSEG data

** Stock trims YTD losses to 5.7% but trails Nifty Pharma Index's .NIPHARM 34% jump YTD

(Reporting by Nandan Mandayam in Bengaluru)

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Nov 4 (Reuters) - Gland Pharma Ltd GLAD.NS:

• GLAND PHARMA Q2 CONSOL NET PROFIT 1.64 BILLION RUPEES; IBES EST. 1.6 BILLION RUPEES

• GLAND PHARMA Q2 CONSOL REVENUE FROM OPERATIONS 14.06 BILLION RUPEES; IBES EST. 14.2 BILLION RUPEES

Source text: [ID:]

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Oct 18 (Reuters) - Gland Pharma Ltd GLAD.NS:

• NAMES SHYAMAKANT GIRI AS CEO

Source text for Eikon: ID:nBSE7vHkpc

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** Shares of Gland Pharma GLAD.NS tumble as much as 9%, before pulling back to a 4% drop

** Injectables manufacturer posted a surprise drop in Q1 profit

** Ambit Capital says in the acquired Cenexi business, growth and margin trajectory was better than its core business, but recovery to be gradual

** Says increasing rev share from lower-margin, non-US markets, slow-margin recovery in Cenexi to continue capping margins

** Analysts avg rating on GLAD is equivalent of "hold" and median PT is 1,913.5 rupees -LSEG data

** Stock is only loser on the Nifty pharma index on the day, which is up 1.3%

** GLAD cuts YTD gains to 5%, while the pharma index has gained about 11.5%

(Reporting by Aleef Jahan in Bengaluru)

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Aug 6 (Reuters) - Gland Pharma Ltd GLAD.NS:

• GLAND PHARMA Q1 CONSOL NET PROFIT 1.44 BILLION RUPEES; IBES PROFIT EST. 2.09 BILLION RUPEES

• GLAND PHARMA Q1 CONSOL REVENUE FROM OPERATIONS 14.02 BILLION RUPEES; IBES EST. 14.95 BILLION RUPEES

Source text for Eikon: ID:nBSE2GZXf7

Further company coverage: GLAD.NS

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July 25 (Reuters) - Gland Pharma Ltd GLAD.NS:

• CONCLUSION OF US FDA SURPRISE INSPECTION AT DUNDIGAL FACILITY, HYDERABAD

• INSPECTION CONCLUDED WITH TWO 483 OBSERVATIONS

• OBSERVATIONS ARE PROCEDURAL IN NATURE

Source text for Eikon: ID:nNSE6jkd57

Further company coverage: GLAD.NS

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July 23 (Reuters) - Gland Pharma Ltd GLAD.NS:

• GETS TENTATIVE APPROVAL FROM USFDA FOR LATANOPROSTENE BUNOD OPHTHALMIC SOLUTION

• UPON FINAL APPROVAL, CO MAY BE ELIGIBLE FOR 180 DAYS OF GENERIC DRUG EXCLUSIVITY

Source text for Eikon: [ID:]

Further company coverage: GLAD.NS

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June 19 (Reuters) - Shanghai Fosun Pharmaceutical Group Co Ltd 600196.SS:

• SAYS UNIT SELLS 6.0% STAKE IN GLAND PHARMA LTD FOR ABOUT $211 MILLION

Source text

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June 18 (Reuters) -

• FOSUN IS SAID TO PLAN BLOCK DEALS TO PARE 6% STAKE IN GLAND PHARMA - BLOOMBERG NEWS

Source text: [https://tinyurl.com/4dw5kfer]

Further company coverage: 600196.SS

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June 7 (Reuters) - Gland Pharma Ltd GLAD.NS:

• APPOINTMENT OF SRINIVAS SADU AS CEO

• APPOINTMENT OF SRINIVAS SADU AS EXECUTIVE CHAIRMAN

• TAKEN ON RECORD COMPLETION OF TENURE OF CHAIRMAN YIU KWAN STANLEY LAU

Further company coverage: GLAD.NS

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** Shares of Gland Pharma GLAD.NS rise as much as 2.5% before trimming some gains; last up 1.2% at 1,903 rupees

** Generic injectables maker said the U.S. FDA completed inspection at co's Visakhapatnam facility with zero 483 observations

** Stock was down ~1% before the announcement

** GLAD is second-biggest gainer on the Nifty pharma index .NIPHARM - down 0.1%

** Analysts' avg rating on stock is "Hold", in line with rival Dr. Reddy's REDY.NS while Cipla CIPL.NS is rated "Buy" - LSEG

** Median PT on GLAD is 1,872.5 rupees

** Including session's gains, GLAD is up ~20% YTD vs 14% surge in NIPHARM

(Reporting by Manvi Pant in Bengaluru)

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** Shares of Gland Pharma GLAD.NS up 4.5% at 1,873.8 rupees, on track for best day since April 8

** Co's Q4 rev beat estimates but profit fell short

** Jefferies says GLAD's base business EBITDA margin expansion driven by core U.S. sales growth of 8% QoQ on new launches and favourable pricing

** Brokerage adds, base business margin profile is showing continued improvement but acquisition of Cenexi is taking longer than expected to show results

** Rival Dr Reddy's REDY.NS beat Q4 profit estimates, Cipla CIPL.NS and Sun Pharma SUN.NS both missed rev estimates

** GLAD, REDY rated "hold" on avg; CIPL and SUN rated "buy" - LSEG data

** YTD, GLAD down 1.5%; REDY, CIPL and SUN up between 1.2% and 19%

(Reporting by Varun Vyas in Bengaluru)

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BENGALURU, May 22 (Reuters) - Indian generic injectables maker Gland Pharma GLAD.NS reported fourth-quarter profit below estimates on Wednesday, as soaring employee expenses outweighed strong demand in its core markets.

It reported a consolidated net profit of 1.92 billion rupees ($23 million) for the quarter ended March 31, missing analysts' average estimate of 2.41 billion rupees as per LSEG data.

In the year-ago period, the company had reported a profit of 786.8 million rupees which included a one-time impairment charge of 564.6 million rupees.

Its revenue from operations jumped nearly 96% to 15.37 billion rupees, ahead of analysts' estimates of 15.23 billion rupees, led by an eight-fold jump in Europe sales and an 83% growth in U.S. sales.

These markets together constitute about 75% of the company's total revenue.

The revenue was also boosted by Gland Pharma's acquisition of French pharmaceutical group Cenexi in January 2023. Excluding this income, its revenue rose 50% to 11.74 billion rupees.

Sales in the company's other core markets, such as Canada, Australia and New Zealand, rose 58% to 578 million rupees.

However, this was more than offset by its expenses surging 95% to 12.81 billion rupees, mainly due to a more than three-fold jump in employee-related costs and higher raw material prices.

Its tax expenses also surged more than three-fold to 1.06 billion rupees.

Last week, rival Dr Reddy's reported fourth-quarter results above estimates on strong U.S. demand, while Cipla missed revenue estimates due to weakness in its India consumer segment.

Earlier in the day, Sun Pharma SUN.NS reported fourth-quarter revenue below, and profit above estimates.

Separately, the company also declared a dividend of 20 rupees per share.

($1 = 83.2760 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Varun H K)

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