Gland Pharma’s (NSE: GLAND) subsidiary Cenexi’s Fontenay Manufacturing Facility received 10 observations following a GMP inspection by ANSM. The company is actively working on resolving the issues and will update exchanges.
Cenexi’s Fontenay Manufacturing Facility, a material subsidiary of Gland Pharma Limited, underwent a Good Manufacturing Practices (GMP) inspection by the Agence nationale de sécurité du médicament et des produits de santé (ANSM) from December 9, 2024 to December 19, 2024.
The inspection was concluded with an official notification issued on December 24, 2024, citing 10 observations, the company said in a press release on the stock excchanges.
Cenexi is committed to addressing these observations in collaboration with the ANSM and will keep the exchanges updated on further developments.
Gland Pharma Limited reported its Q2 FY25 results, with a net profit of ₹164 crore, reflecting a decline of 15.7% compared to the same period last year.
Revenue from operations grew by 2.4%, reaching ₹1,406 crore. The company’s EBITDA margin also experienced a dip, primarily impacted by temporary production issues at its French subsidiary, Cenexi.
Despite these challenges, Gland Pharma saw a 5% revenue growth when excluding Cenexi, with strong sales from markets like the US, Canada, Australia, and New Zealand, which contributed positively to overall performance.
On December 26, 2024, Gland Pharma’s share price traded 1.11% higher at ₹1,799.25, at 10:10 AM on the NSE. The stock opened at ₹1,754.45, lower than ₹1,779.45 at its previous close.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
We're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
