India's Gland Pharma posts Q2 profit drop hurt by Europe business
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 04 2024
0mins
Source: Reuters
Gland Pharma's Financial Performance: Gland Pharma reported a 15.7% decline in second-quarter profit to 1.64 billion rupees, primarily due to lower sales in Europe and temporary production issues at its French unit, Cenexi, despite a 2.4% increase in overall revenue.
Market Context and Comparisons: The company's U.S. sales grew by 3%, while other markets saw a 45% rise; however, competition in the generic drugs market continues to pressure margins, contrasting with stronger performances from rivals like Sun Pharma and Cipla.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
