Highlights

• Glenmark reported 15.8% year-on-year growth in Q4 FY26 consolidated revenue.
• FY26 consolidated revenue increased 27.5% compared with the previous fiscal year.
• AbbVie licensing agreement for ISB 2001 remained a key business development.

Glenmark Pharmaceuticals Limited (NSE:GLENMARK) announced its financial results for the fourth quarter and full financial year ended March 31, 2026.  The company reported consolidated revenue of INR 37,706 million in Q4 FY26, reflecting a year-on-year increase of 15.8% compared with INR 32,562 million reported during the corresponding quarter of the previous year. For the full financial year FY26, consolidated revenue stood at INR 169,825 million, representing growth of 27.5% from INR 133,217 million in FY25.

Profitability Metrics During the Quarter

During Q4 FY26, Glenmark reported EBITDA of INR 7,626 million, with EBITDA margin at 20.2%. Profit after tax (PAT) for the quarter reached INR 3,013 million, while PAT margin stood at 7.6%.

For FY26, EBITDA was reported at INR 45,724 million, resulting in an EBITDA margin of 26.9%. Full-year PAT came in at INR 13,620 million, with PAT margin at 7.8%.

Source: Company Filing

AbbVie Licensing Deal Marks Key Development

One of the notable developments during FY26 was the licensing agreement involving Ichnos Glenmark Innovation (IGI) and AbbVie for ISB 2001, a BEAT® protein platform-based therapy targeting oncology and autoimmune diseases. Under the agreement, IGI secured a USD 700 million upfront payment and may receive total deal-related payments of up to USD 1.925 billion, along with tiered double-digit royalties on future net sales.

Glenmark will oversee commercialization of the product across emerging markets. The company stated that ISB 2001, now known as ABBV-2001, continues to advance through clinical development for relapsed or refractory multiple myeloma.

Growth Across Key Geographic Markets

Glenmark reported growth across several operating regions during FY26. The India formulation business generated revenue of INR 10,201 million in Q4 FY26, rising 8.2% year-on-year from INR 9,430 million. The company highlighted continued growth in dermatology, respiratory, cardiac, and oncology segments.

North America revenue increased 29.4% year-on-year to INR 9,248 million during the quarter, supported by respiratory product approvals and deferred out-licensing income recognition related to ISB 2001. Europe revenue rose 21.4% to INR 8,907 million, while emerging markets revenue increased 13.7% to INR 8,979 million during Q4 FY26.

Product Launches and Regulatory Developments

During FY26, Glenmark expanded its portfolio through several product launches and regulatory approvals. The company launched GLIPIQ® (semaglutide) in India for Type 2 Diabetes Mellitus management. It also continued commercial activities for oncology products TEVIMBRA® and BRUKINSA®.

In the United States, Glenmark received approval for the first generic version of Flovent® HFA 44 mcg with Competitive Generic Therapy designation and secured approval for Fluticasone Propionate Nasal Spray OTC. The company also initiated direct commercialization activities for RYALTRIS® in the U.S. market while continuing launches and approvals across international markets.

Innovation Pipeline and Clinical Progress

IGI's oncology pipeline remained a focus area during FY26. ISB 2001/ABBV-2001 continued enrollment in Phase 1 dose-expansion studies, with more than 145 subjects dosed to date. The company also disclosed progress on ISB 2301, a multispecific immune cell activator targeting solid tumors, while ISB 2302 and ISB 2501 remain in preclinical development stages.

Additionally, Glenmark continued to advance licensing partnerships involving oncology and autoimmune disease candidates through collaborations with multiple international pharmaceutical companies.

Key Risks to Monitor

• Regulatory approvals may impact commercialization timelines.
• Clinical trial outcomes remain subject to development risks.
• Pharmaceutical pricing pressures may affect profitability.
• International market performance can influence revenue growth.

Summary

Glenmark Pharmaceuticals (NSE:GLENMARK) reported consolidated revenue growth of 15.8% in Q4 FY26 and 27.5% for the full fiscal year. The company highlighted progress across India, North America, Europe, and emerging markets while advancing multiple product launches and regulatory approvals.

The licensing agreement for ISB 2001 with AbbVie remained a major development during FY26, alongside continued expansion of its oncology, respiratory, and innovation-focused businesses.

FAQs

Q: What was Glenmark's consolidated revenue in Q4 FY26?
A: Glenmark reported consolidated revenue of INR 37,706 million during the fourth quarter of FY26.

Q: What was the key licensing deal announced during FY26?
A: IGI signed a licensing agreement with AbbVie for ISB 2001, including upfront and milestone payments.

Q: How much did Glenmark's FY26 revenue grow year-on-year?
A: Consolidated revenue increased 27.5% year-on-year to INR 169,825 million during FY26.