Financial Performance Overview

Glenmark Pharmaceuticals reported financial results for the first quarter ended June 30, 2026 (Q1 FY27). Consolidated revenue was Rs. 40,185 million (USD 425.1 million) compared to Rs. 32,644 million (USD 381.6 million) in Q1 FY26, representing 23.1% year-on-year (YoY) growth.

EBITDA was Rs. 8,048 million in Q1 FY27, registering 38.6% YoY growth with an EBITDA margin of 20.03%. Profit After Tax (PAT) was Rs. 4,828 million with a PAT margin of 11.8%.

Regional Performance Breakdown

India Formulations: Revenue reached Rs. 14,321 million (USD 151.5 million), up 15.5% YoY from Rs. 12,399 million (USD 145 million). Glenmark outperformed the Indian Pharmaceutical Market (IPM) with 18.1% growth in Q1 FY27 versus IPM growth of 12.2%. As per IQVIA MAT June 2026, Glenmark ranks:

  • 13th overall with 2.37% market share
  • 2nd in Dermatology with 8.4% market share
  • 3rd in Respiratory with 6.0% market share
  • 4th in Cardiac with 6.1% market share

North America: Revenue was Rs. 10,974 million (USD 116.1 million), up 41.1% YoY from Rs. 7,780 million (USD 90.9 million). This includes deferred out-licensing income recognition for ISB 2001. Excluding this, core business growth was 19.8% YoY. The company launched 9 products in Q1 FY27 and has 225 generic products authorized for distribution with 53 applications pending with US FDA.

Europe: Revenue was Rs. 7,472 million (USD 79 million), up 11.9% YoY from Rs. 6,678 million (USD 78.1 million). The branded portfolio showed good growth in Respiratory and Dermatology therapeutic areas.

Emerging Markets: Revenue was Rs. 7,304 million (USD 77.3 million), up 27.7% YoY from Rs. 5,721 million (USD 66.9 million). This includes Russia + CIS, Latin America, Middle East and Africa, and Asia-Pacific regions.

Key Product Updates

RYALTRIS®: Marketing applications submitted to more than 90 countries, commercialized in 57 markets. Expected to launch in 10 additional markets in coming quarters. Approved in China (November 2025) and launched in March 2026. Glenmark initiated end-to-end commercialization in the US.

WINLEVI®: Launched in UK in Q1 FY26 and in several European markets in Q1 FY27 (Nordics, CEE countries, Spain). Currently under regulatory review in South Africa.

TEVIMBRA® (Tislelizumab) & BRUKINSA® (Zanubrutinib): Partnered with BeOne, launched in India in Q1 FY26 with strong market uptake.

NEBZMART® GFB Smartules® / GLENMARK AIRZ® FB Smartules®: World's first nebulized, fixed-dose triple therapy for COPD launched in Q3 FY26.

JABRYUS® (Abrocitinib): Partnered with Pfizer, launched in India for moderate-to-severe Atopic Dermatitis.

Innovative Portfolio Pipeline Update

QiNHAYO™ (Envafolimab): Partnered with Jiangsu Alphamab & 3D Medicines. MA applications filed in 24 countries as of June 2026, first commercial launch expected in FY28. Early access programs initiated in 7 markets.

Trastuzumab Rezetecan: Partnered with Hengrui Pharma. First wave of MA applications expected Q2 FY27. Phase 3 clinical trial initiated in India for Platinum-Resistant Ovarian Cancer.

Aumolertinib: Partnered with Hansoh Pharma. MA applications submitted in 13 countries as of June 2026, first commercial launch anticipated H2 FY27.

Ichnos Glenmark Innovation (IGI) Oncology Pipeline:

  • ISB 2001/ABBV-2001: >160 subjects dosed in TRIgnite-1 Phase 1 study, Phase 1/2 multi-cohort combination study initiated
  • ISB 2301: IND intended to be submitted later this year
  • ISB 2302 and ISB 2501: Both in early preclinical development

Management Commentary

Glenn Saldanha, Chairman & Managing Director, stated: "We have started FY2027 with broad-based growth across our key markets, reflecting strong execution and the resilience of our business. India continued to outperform the market, North America delivered robust underlying growth driven by our first-to-market respiratory launches, and Emerging Markets sustained strong momentum, underscoring the strength of our diversified global business."

Foreign Exchange Rates

Average conversion rate in Q1 FY27: INR 94.53/USD 1.00

Average conversion rate in Q1 FY26: INR 85.54/USD 1.00

Glenmark Consumer Care (GCC)

Primary sales for GCC in Q1 FY27 were Rs. 1,558 million with 28% YoY growth. Flagship brand CANDID® recorded >30% growth across all variants.