Glenmark Reports Strong Q1 FY27 Results; Consolidated Revenue Grows 23.1% YoY

Glenmark Reports Strong Q1 FY27 Results; Consolidated Revenue Grows 23.1% YoY​

Glenmark Pharmaceuticals Ltd., a global research-led pharmaceutical company, announced its financial results for the first quarter of fiscal year 2027, ended June 30, 2026. The consolidated revenue saw an overall growth of 23.1%, reaching Rs. 40,185 million from Rs. 32,644 million in the corresponding quarter last year.

The company reported EBITDA at Rs. 8,048 million, marking a 38.6% YoY growth with an EBITDA margin of 20.03%. Profit After Tax (PAT) for the quarter was Rs. 4,828 million, resulting in a PAT margin of 11.8%.

Glenn Saldanha, Chairman & Managing Director at Glenmark Pharmaceuticals Ltd., noted that the results reflect strong execution and business resilience across key markets. He highlighted that India continued to outperform, North America showed robust growth driven by respiratory launches, and Emerging Markets maintained strong momentum.

Financial Performance Summary​

The financial performance of Glenmark for Q1 FY27 across major segments is summarized below:


The consolidated revenue breakdown is detailed in the table below:

Key Operational and Business Updates​

Global Formulation Business: Glenmark's formulation business spans Branded, Generics, and OTC segments across Dermatology, Respiratory, and Oncology therapy areas.

India Market Performance:
Sales from the formulation business in India reached Rs. 14,321 million (USD 151.5 million), up 15.5%. The company’s growth in core therapeutic areas like Dermatology, Respiratory, Cardiac, and Oncology was strong. Specifically, in Q1 FY27, the Indian formulations business grew by 18.1% compared to IPM growth of 12.2%, and 14.3% compared to MAT June 2026 figures.

In terms of market positioning as per IQVIA MAT June 2026, Glenmark holds a market share of 2.37% (ranking 13th) in the Indian IPM. In core therapeutic segments, the company ranks 2nd in Dermatology, 3rd in Respiratory, and 4th in Cardiac.

North America Growth:
Revenue from North America stood at Rs. 10,974 million (USD 116.1 million), showing a 41.1% YoY growth against Rs. 7,780 million (USD 90.9 million) in Q1 FY26. The core business growth for the region was 19.8%, excluding deferred out-licensing income recognition for ISB 2001.
During the quarter, Glenmark launched nine products, including Methylene Blue Injection USP and Olanzapine for Injection. The company also strengthened its generic Respiratory franchise with an ANDA approval for Fluticasone Propionate Inhalation Aerosol USP (generic to FloVent® HFA Inhalation Aerosol).

Europe Performance:
Glenmark Europe operations generated Rs. 7,472 million (USD 79 million), up 11.9% from Rs. 6,678 million (USD 78.1 million) in Q1 FY26. The branded portfolio saw good growth, with RYALTRIS® continuing to gain market share across all launched countries. WINLEVI®, launched in the UK in Q1 FY26, gained traction after receiving MA approval in the EU and being launched in select markets including CEE, Spain, and Nordic countries.

Emerging Markets (RCIS, LATAM, MEA & APAC):
Revenue from Emerging Markets was Rs. 7,304 million (USD 77.3 million), increasing by 27.7% over the previous year's Q1 figure of Rs. 5,721 million (USD 66.9 million). The company’s Russia business saw strong secondary sales growth of 12%, where Glenmark now ranks 8th among Dermatology companies as per IQVIA MAT May 2026. RYALTRIS® remains the leading nasal spray for Allergic Rhinitis in most markets.

Global Innovation Portfolio Updates​

TEVIMBRA® and BRUKINSA® Partnership:
Glenmark launched TEVIMBRA® (Tislelizumab) and BRUKINSA® (Zanubrutinib) in India during Q1 FY26, seeing strong market uptake as differentiated treatment options for various solid tumors and hematological malignancies.

NEBZMART® / GLENMARK AIRZ®:
The company announced the launch of NEBZMART® GFB Smartules® and Glenmark AIRZ® FB Smartules® in Q3 FY26. These products are the world's first nebulized, fixed-dose triple therapy for Chronic Obstructive Pulmonary Disease (COPD), combining Glycopyrronium, Formoterol, and Budesonide.

JABRYUS® Partnership:
Glenmark launched JABRYUS® (Abrocitinib) in partnership with Pfizer in India. The drug is a first-of-its-kind oral advanced systemic treatment for moderate-to-severe Atopic Dermatitis (AD).

IGI Oncology Pipeline Highlights:
The ICHNOS GLENMARK INNOVATION (IGI) pipeline includes four oncology assets. ISB 2001 (ABBV-2001), a trispecific T-cell engager targeting CD38 and BCMA, received Orphan Drug and Fast Track Designations from the U.S. Food and Drug Administration (FDA). The company has initiated Phase 1 study TRIgnite-1 in Australia, US, and European countries, with over 160 subjects dosed to date. Furthermore, Glenmark Pharmaceuticals will lead commercialization of ISB 2001/ABBV-2001 across Emerging Markets, including Latin America, Russia/CIS, and Australia, as per the licensing agreement with AbbVie.

Trastuzumab Rezetecan:
Glenmark advanced its preparations for MA applications for Trastuzumab Rezetecan in several Emerging Markets after this drug was in-licensed from Jiangsu Hengrui Pharmaceuticals Co., Ltd. Glenmark initiated a Phase 3 Clinical Trial of Trastuzumab Rezetecan in Platinum-Resistant Ovarian Cancer (PROC) in India, following DCGI approval.

Aumolertinib Development:
Glenmark has submitted MA applications for Aumolertinib in 13 countries and expects the first commercial launch during the second half of FY27.

GLENMARK Stock Price Movement​

Glenmark Pharmaceuticals Limited closed today by rallying, settling at ₹2233.90 after gaining 2.73% in the session. The equity traded within a range of ₹2207 and ₹2256.7 and recorded 371,153 shares exchanged during the trading day.