Gland Pharma vs Anthem, Blue Jet, Cohance and 7 other listed Indian CDMO stocks

Gland fills injectable medicines — vials, ampoules, ready-to-use infusion bags — almost entirely for other companies to sell under their own labels. The United States was 54% of June-quarter revenue and Europe 22%. The moat is regulatory: 389 American abbreviated new drug applications filed and 342 approved, a position that takes decades to build and cannot be bought.

Gross block grew 8.3%, a modest figure here, because the growth that matters is contractual rather than physical — a CDMO partnership worth $90–100 million a year once all products are commercialised, a sterile-ingredient collaboration with Neuland, and an in-licensing agreement with a China-based developer. Fifteen products are in co-development, seven of them harder 505(b)(2) filings. The unfinished business is Cenexi, the French acquisition, at €48 million of quarterly revenue on €2 million of EBITDA.

Not a founder company: Fosun Pharma, a listed Chinese group, controls 51.77% through five entities. Srinivas Sadu is executive chairman, and there is currently no chief executive — Shyamakant Giri resigned with effect from 30 April 2026 and the annual report says a successor will be appointed “at the earliest possible”. The board is eight, four of them independent, and Deloitte issued an unmodified opinion.

A rival's verdict — “one of the key players when it comes to this specific kind of sterile manufacturing, which is not very prevalent, not just in India, but across the globe.”

Neuland's management · Q1 FY27

Cenexi is held to guidance of about €200 million of revenue and high single-digit margins for the full year.

Q1 FY27