India's Gland Pharma falls on as French unit "continued to bleed"

Gland Pharma

04/02/2025 04:24

** 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)
 ((Ananta.Agarwal@thomsonreuters.com))