Gland Pharma shares zoom up to 5%: here's why

Gland Pharma shares in Thursday's trade (December 12) zoomed up to 5 per cent to the day's high price of Rs 1,860 per share on the BSE. Nevertheless, the morning gains were pared and the stock at around 11 am traded higher by 1.69 per cent or Rs 29.95 at Rs 1,805.3.

The sharp gains in the stock came after the pharma major received the USFDA approval for Phytonadione Injectable Emulsion USP, 10 mg/mL Single Dose Ampules. 

The product is bioequivalent and therapeutically equivalent to the reference listed drug (RLD)- Vitamin K1 Injectable Emulsion USP, 10 mg/mL, of Hospira, Inc., added the company's press release.

The drug is used to treat coagulation disorders caused by Vitamin K deficiency. 

 The Company expects to launch this product through its marketing partners in the near future, said the company release.

 According to IQVIA, the product registered US sales of approximately USD 15 million for the twelve months ending September 2024.

As per the stock tracking platform- Trendlyne- the consensus recommendation from 12 analysts for Gland Pharma is HOLD.

Gland Pharma share price performance

On a year-to-date basis (YTD), the stock has declined by over 6 per cent, while its 3-year return is also in the negative with the stock falling 50 per cent during the period.

About Gland Pharma

Gland Pharma based out of Hyderabad has grown from a contract manufacturer of small-volume liquid parenteral products to become one of the largest 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 and has an excellent track record in developing, manufacturing, and marketing sterile injectables. It has a wide range of injectables, including vials, ampoules, pre-filled syringes, lyophilized vials, dry powders, infusions, oncology, and ophthalmic solutions.