Glenmark Pharmaceuticals , a global pharmaceutical company, has reported a robust financial performance for the second quarter of fiscal year 2025-26 (Q2 FY26), marked by significant revenue growth and profit expansion.

Financial Highlights

• Revenue: Glenmark's consolidated revenue surged by 76.1% year-over-year (YoY) to Rs 60,469.00 million in Q2 FY26, compared to Rs 34,338.00 million in the same quarter last year.
• Profit: Net profit after tax increased by 72.2% YoY to Rs 6,104.00 million, with a profit margin of 10.1%.
• EBITDA: The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) grew by 292% to Rs 23,596.00 million, resulting in an EBITDA margin of 39%.

Regional Performance

North America

Revenue from North America operations saw a substantial increase, reaching Rs 44,656.00 million, up 503% YoY. Excluding the out-licensing income from the ISB 2001 deal, the core business growth was 7.4%.

Europe

The European business grew by 8.5% YoY to Rs 7,460.00 million, driven by strong performance in Central and Eastern European markets.

India

The India formulation business faced challenges due to GST regime changes, resulting in a revenue decline to Rs 1,650.00 million. However, secondary sales growth outperformed the Indian Pharmaceutical Market (IPM) at 10.8% for the quarter.

Emerging Markets

Revenue from emerging markets declined by 6.5% YoY to Rs 6,585.00 million, impacted by geopolitical uncertainties in some regions.

Key Developments

1. AbbVie Partnership: Glenmark's subsidiary, IGI Therapeutics SA, entered into a significant licensing agreement with AbbVie for ISB 2001, recognizing $525.00 million as revenue in Q2 FY26.

2. Product Launches: The company launched two products in the US market: Micafungin for Injection USP and Eribulin Mesylate Injection, expanding its injectable product portfolio.

3. RYALTRIS® Expansion: The company's nasal spray RYALTRIS® continued to gain market share across various countries and is set to launch in China and Thailand in the coming quarters.

4. Legal Settlement: Glenmark settled an antitrust lawsuit with United Healthcare Services, Inc. for $11.00 million, resolving all claims related to generic Zetia® and Vytorin® antitrust and consumer protection litigations.

5. Consumer Care Business: The company completed the transfer of its consumer care business to a wholly-owned subsidiary, Glenmark Consumer Care Limited.

Management Commentary

Glenn Saldanha, Chairman & Managing Director of Glenmark Pharmaceuticals Ltd., stated, "Q2 FY26 reflects the steady progress we are making in strengthening Glenmark's scientific and strategic foundation. The AbbVie partnership for ISB 2001, along with the income recognized this quarter, is a significant validation of our scientific strength and enables us to advance the pipeline in a financially self-sustaining way."

He added, "Across key markets, our performance remained resilient. North America delivered continued uptick in performance, supported by the expansion of our injectable portfolio and steady execution across institutional channels. Europe returned to its growth trajectory, backed by recent product launches."

Outlook

Glenmark Pharmaceuticals remains focused on disciplined execution, advancing meaningful science, and delivering sustained value for patients, partners, and stakeholders. The company's strategic initiatives, including the expansion of its specialty and innovative product portfolio, are expected to drive growth in the coming quarters.

The company's strong performance in Q2 FY26, despite challenges in some markets, demonstrates its resilience and ability to capitalize on growth opportunities across diverse geographical segments.

Glenmark Pharmaceuticals Ltd. has achieved a significant milestone in its global expansion strategy with the approval of its respiratory treatment product, RYALTRIS®, by China's National Medical Products Administration (NMPA). This development marks a crucial step in strengthening Glenmark's position in respiratory innovation and expanding its presence in the Chinese pharmaceutical market.

Key Highlights of the Approval

• Product: RYALTRIS® Compound Nasal Spray (GSP 301 NS)
• Approved For: Treatment of Allergic Rhinitis (AR) in adults and children
• Specific Indications:
  • Moderate to severe seasonal AR in adults and children 6 years and older
  • Moderate to severe perennial AR in adults and children 12 years and older

Clinical Trial Success

The NMPA approval follows the successful completion of a Phase III clinical trial (GSP 301-308) conducted in China. The trial, which enrolled 535 patients across multiple centers, demonstrated RYALTRIS®'s superior efficacy compared to monotherapy alternatives.

Global Footprint Expansion

RYALTRIS® has already secured approvals in several major markets, including:

• United States
• European Union
• United Kingdom
• Australia
• South Korea
• Russia

RYALTRIS® was launched in 11 international markets, bringing its global presence to 45 countries.

Strategic Partnership

Glenmark has entered into an exclusive licensing agreement with Grand Pharmaceuticals Group Limited for the commercialization of RYALTRIS® in China, demonstrating the company's commitment to strategic partnerships for market expansion.

Management Commentary

Christoph Stoller, President and Business Head – Europe and Emerging Markets at Glenmark Pharmaceuticals Ltd., stated, "The approval of RYALTRIS® in China is a significant step in expanding our specialty respiratory portfolio. China is a priority market for Glenmark, and together with Grand Pharmaceuticals, our focus is on enabling access to this treatment for patients and healthcare professionals."

This approval not only reinforces Glenmark's position in the respiratory innovation space but also aligns with the company's global strategy to expand its specialty product portfolio. As Glenmark continues to advance its innovative therapies for patients with chronic conditions, the Chinese market presents a substantial opportunity for growth and impact in the pharmaceutical sector.