Gland Pharma Limited, a generic injectable focused pharmaceutical company, announced its financial results for the third quarter and nine months ended December 31, 2022.

Commenting on the results, Srinivas Sadu, MD & CEO of Gland Pharma said “We closed this quarter Q3 FY23, witha revenue of Rs. 9,383 Mn and a PAT of rS.2,319Mn. Challenging business environment, ongoing supply chain disruptions leading to production delays continue to impact our performance. We have received EIR from US FDA after the last audit at our Dundigal facility. Our continued focus on product quality and compliance differentiates us and provide confidence to our partners for long term association. We also completed signing the share purchase agreement for the proposed acquisition of Cenexi."

Core markets of US, Europe, Canada, Australia, and New Zealand accounted for 70% of revenue during Q3FY23, maintaining similar level of revenue contribution as compared to Q3FY22.

During the quarter the Company has Launched 5 product SKUs.Rest of the World markets, accounted for 21% of Q3FY23 revenue for the quarter.