Gland Pharma’s Shares experience a drastic decline of 75% in the last two years, dropping from INR 3880 in December 2021 to below INR 960 in June 2023. The company has been unable to escape the ongoing bearish trend that has been plaguing the share market for the past two years. Experts suggest that the sharp decline is due to weak quarterly results and an increase in pressure on the share price.
Gland Pharma is under scrutiny as the USFDA is set to commence an inspection of its Hyderabad plant from June 15, 2023. The inspection will focus on the plant’s CGMP and PAI compliance. CGMP stands for Current Good Manufacturing Practices, while PAI refers to Pre-Approval Inspection. Any adverse findings during the inspection could lead to a further decline in the share price, although no such news has been reported yet.
Gland Pharma’s Q4 results for 2021-22 show a significant decline in profit from INR 286 crore to INR 78.6 crore in comparison to the same period the previous year. With the bearish trend continuing, the company faces an uphill battle to recover its share price.
Key takeaways:
– Gland Pharma’s Shares experience a 75% decline in the last two years.
– The USFDA is set to inspect Gland Pharma’s Hyderabad plant from June 15, 2023.
– Gland Pharma’s Q4 results for 2021-22 show a significant decline in profit.
– The company faces an uphill battle to recover its share price.
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