Glenmark Pharma's revenue fell by 30% in the second quarter, and profit dropped by 57%

Zydus Lifesciences reported a 26.6% decline in consolidated net profit for the September quarter, reaching 925.5 crore rupees, which was attributed to increased expenses. In the corresponding period last fiscal year, the company reported a net profit of 1,260.9 crore rupees, according to regulatory filings submitted to the stock exchanges.

For the reporting quarter, operating revenue increased to 7,909.6 crore rupees compared to 6,123.2 crore rupees a year earlier. However, Zydus's total expenses rose significantly, amounting to 6,806.6 crore rupees in the current quarter, whereas they were 4,509 crore rupees in the same period last year.

During this quarter, the pharmaceutical business accounted for 83% of the company's sales. Notably, the prescription drug division in India generated revenue of 1,884.4 crore rupees, showing an 18% year-on-year growth. The North American prescription drug business generated revenue of 3,314.5 crore rupees, demonstrating a 21% growth, resulting from sustained expansion of the core business volume and the ongoing scaling of the American specialty segment.

Zydus Lifesciences Managing Director, Sharvil Patel, noted that the second-quarter results reflect a strong overall momentum led by branded segments in India, international markets, and the wellness sector. He emphasized that the share of branded product sales in the US grew to 16%, indicating the company's systematic shift towards a more differentiated portfolio focused on specialized products. Patel added that the company expects approval and launch of Saroglitazar in the US, which is the first domestic discovery of a new chemical entity (NCE) and marks a significant milestone in its development.

Furthermore, for the period from April to September of the 2027 fiscal year, the pharmaceutical company's net profit decreased by 30.86% to 1,885.9 crore rupees compared to 2,727.7 crore rupees a year earlier. At the time of publication, Zydus Lifesciences shares were trading at BSE at Rs 1,197.50 per share, down by 3.35%.

The pharma company Lupin reported a decrease in consolidated net profit by 22.19 percent to 1155.30 crore rupees in the September quarter. This decline was attributed to an exceptional expense item.

In the report submitted to stock exchange regulators, the company indicated that in the same period last fiscal year, net profit amounted to 1484.83 crore rupees. Operating revenue for the quarter under review reached 7827.26 crore rupees, exceeding the figure of 7047.51 crore rupees from the previous year.

Lupin's total expenses also increased to 6374.46 crore rupees in the current quarter compared to 5130.54 crore rupees for the same period last year. Furthermore, for the period from April to September 2027 fiscal year, the company's net profit decreased by 4.95 percent, amounting to 2572.28 crore rupees versus 2706.29 crore rupees the previous year.

During the six months ending September 30, 2026, Lupin Pharmaceuticals Inc USA, a subsidiary of the Group, settled an antitrust lawsuit for $316.28 crore (US$35.8 million) without admitting guilt or wrongdoing, as stated in the filings.

The company added that it continues to bear the remaining provision for future settlements related to similar cases. Meanwhile, the company's sales in the US for the September quarter amounted to 3020.2 crore rupees, which is 9.3 percent higher than 2762.4 crore rupees the previous year.

According to the IQVIA report for September 2026, Lupin remains the third-largest pharmaceutical player in both the US generics market and the overall US prescription market. Sales in India for the second quarter of the 2027 fiscal year reached 2383.6 crore rupees, which is 14.7 percent more than 2077.7 crore rupees in the second quarter of the 2026 fiscal year, accounting for 31 percent of Lupin's global sales.

Lupin's Managing Director, Nilesh Gupta, stated that the company demonstrated a strong first half of the 2027 fiscal year, supported by steady growth in key markets and maintained profitability. He noted that despite acknowledging short-term difficulties, management is confident in long-term growth prospects, which are supported by the strength of its portfolio, continuous investment in research and development, as well as commercial opportunities and unwavering focus on disciplined execution.

Sun Pharmaceutical Industries, India's largest drug manufacturer, reported on Friday a 36% year-on-year decline in consolidated net profit, reaching ₹1,988.5 crore in the second quarter of the fiscal year 2026-27 (FY27). This decrease was attributed to significant exceptional expenses.

Meanwhile, operating revenue increased by 11.9%, amounting to ₹16,198.7 crore. The company accounted for exceptional expenses totaling ₹1,268.8 crore. These expenses include ₹922.7 crore spent on settling an antitrust lawsuit in the United States (US), as well as ₹346.2 crore for costs related to the proposed acquisition of Organon.

Excluding these exceptional items, the adjusted net profit stood at ₹3,162 crore, demonstrating a growth of 1.4% compared to the same period last year. The company noted that the margin was lower than the previous year because the previous quarter saw a rise in sales of the generic lenalidomide, which is now facing weakening in the US market.

The gross margin improved to 80.8%, and the effective tax rate rose from 24.7% to 28.3%. The results were announced during the trading session, after which Sun Pharma shares rose by 0.8% and closed at ₹1,778.25 on the BSE exchange.

Kirti Ganorkar, Managing Director, stated that the company's success in the reporting quarter was driven by strong momentum from India, emerging markets, and the rest of the world. Prescription drug sales in India grew by 17.3%, reaching ₹5,552.3 crore, accounting for 34.5% of total sales. According to Pharmarack's MAT data, Sun Pharma's market share increased from 8.3% to 8.6%.

During the quarter, the company launched 14 new products, and 19 in the first half of FY27. Prescription drug sales in the US decreased by 8.2% to $455 million, making up about 27% of the total volume. Research and Development (R&D) expenses for the quarter amounted to ₹778.4 crore, or 4.8% of sales. Dilip Shanghvi, Chairman, noted that these figures are below planned R&D expenditures but expects to reach some level of target R&D spending in the second half of the year.