Gland Pharma shares in focus after subsidiary Cenexi gets 11 observations from French regulator
will be in focus on Thursday after the company announced that its material subsidiary, Cenexi, received 11 observations from France's drug regulator, Agence nationale de sécurité du médicament et des produits de santé (ANSM), following a
Good Manufacturing Practices
(GMP) inspection at its Fontenay manufacturing facility.
In a stock exchange filing, Gland Pharma stated:
'The ANSM, France, has issued its final report citing 11 observations pursuant to the
GMP inspection
of Cenexi's Fontenay manufacturing facility conducted between December 9 and December 19, 2024.'
In response, Cenexi has submitted a Corrective and Preventive Action (CAPA) plan, outlining measures to be implemented over a 3- to 12-month period, depending on the nature of each observation. The plan has been accepted by ANSM.
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The company clarified that the observations will not impact manufacturing operations at the Fontenay site. Gland Pharma added that Cenexi is committed to resolving the issues in coordination with the French regulator and will continue to update stock exchanges on further developments.
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Gland Pharma Share Price Target and Performance
According to Trendlyne, the average target price for Gland Pharma is Rs 1,678, implying a potential upside of 3% from current levels. Of the 12 analysts tracking the stock, the consensus rating is 'Hold'.
On Wednesday, Gland Pharma shares closed 1.88% higher at Rs 1,623.7 on the BSE, while the Sensex gained 0.32%. The stock has rallied 16% in the last one month but remains down 43% over the past three years. The company's market capitalisation stands at Rs 26,751 crore.
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Disclaimer
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