Earlier on 27 June 2023, the company informed that USFDA had pre-approval inspection (PAI) for 7 products and good manufacturing practice (GMP) inspection at its Pashamylaram facility at Hyderabad between 15th June, 2023 and 27th June 2023. The inspection was concluded with one observation.
Gland Pharma is one of the largest and fastest growing injectable-focused companies, with a global footprint across 60 countries, including the United States, Europe, Canada, Australia, India, and other markets. It operates primarily under a business to business (B2B) model. It has a wide range of injectables, including vials, ampoules, pre-filled syringes, lyophilized vials, dry powders, infusions, oncology, and ophthalmic solutions and also enjoys the distinction of having pioneered Heparin technology in India.
The company's consolidated net profit declined 15.3% to Rs 194.10 crore despite of 41.1% jump in revenue to Rs 1,208.69 crore in Q1 FY24 over Q1 FY23.
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