Press Release / Management Discussion and Analysis (MDA) for the quarter and half year ended September 30, 2026

November 05, 2026 To, To, National Stock Exchange of India Limited, BSE Limited, “Exchange Plaza”, Corporate Relationship Department, 5th Floor, Plot No. C/1, G Block, 2nd Floor, New Trading Ring, Bandra- Kurla Complex Bandra (East), Mumbai P.J. Towers, Dalal Street, – 400 051 Mumbai – 400 001 Scrip Name: GLENMARK Scrip Code: 532296 ISIN: INE935A01035 ISIN: INE935A01035 Our Reference No. 65/26-27 Our Reference No. 65/26-27 Dear Sir/ Madam, Sub: Press Release and Management Discussion & Analysis Pursuant to regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, we are enclosing herewith the Press Release and Management Discussion & Analysis of the Company for the Second Quarter and Half Year ended September 30, 2026. You are requested to take the same on record. Thanking You. Yours faithfully, For Glenmark Pharmaceuticals Limited Rashmi Khandelwal Company Secretary & Compliance Officer ACS - 28839 Encl: As above Glenmark Pharmaceuticals Limited Glenmark House, B D Sawant Marg, Andheri (E), Mumbai 400 099 T: 91 22 4018 9999 F: 91 22 4018 9988 CIN: L24299MH1977PLC019982 W: www.glenmarkpharma.com Registered office: B/2, Mahalaxmi Chambers, 22 Bhulabhai Desai Road, Mumbai 400 026 E:complianceofficer@glenmarkpharma.com Glenmark Pharmaceuticals Announces Q2 FY27 Results Highlights • India Formulations revenue at Rs. 13,274 million; like-for-like growth of approximately 14% • North America revenue of Rs. 12,089 million; Net of deferred out-licensing income recognition for ISB 2001, the core business grew approximately 31% YoY • Europe revenue of Rs. 7,920 million, growing 6.2% YoY • Emerging Markets revenue of Rs. 8,769 million, growing 33.2% YoY • EBITDA of Rs. 8,638 million, with an EBITDA margin of 20.3% • Adjusted Profit After Tax (PAT) of Rs. 4,852 million, with an adjusted PAT margin of 11.4% Mumbai, India, November 05, 2026: Glenmark Pharmaceuticals Ltd. (Glenmark), a research- led, global pharmaceutical company, today announced its financial results for the second quarter ended September 30, 2026. Consolidated revenue for Q2 FY27 was Rs. 42,473 million. On a like-for-like basis, consolidated revenue grew approximately 20% YoY. EBITDA for the quarter was Rs. 8,638 million, representing an EBITDA margin of 20.3%. Adjusted Profit After Tax (PAT) for the quarter was Rs. 4,852 million, with an adjusted PAT margin of 11.4%. Reported Profit After Tax (PAT) was Rs. 2,638 million, with a reported PAT margin of 6.2%. Commenting on the results, Glenn Saldanha, Chairman & Managing Director, Glenmark Pharmaceuticals Ltd. said, “Q2 demonstrated the strength and resilience of Glenmark’s base business. We remain on track to deliver our FY27 guidance with continued growth in India, a strong recovery in North America supported by multiple launches, and robust performance across Emerging Markets. RYALTRIS® continues to expand internationally with the recent Brazil launch marking an important milestone. Our partnered innovative oncology pipeline is advancing toward commercialization with the first launch expected by the end of FY27. IGI continues to advance its multispecific oncology pipeline with Phase 1 ISB 2001 data selected for oral presentation at the 2026 American Society of Hematology (ASH) Annual Meeting. We also intend to submit an IND application for ISB 2301 by the end of this year. Together, these milestones underscore the strength of our innovation platform and position Glenmark for its next phase of sustainable, innovation-led growth, and long-term value creation,” he added. About Glenmark Pharmaceuticals Limited Glenmark Pharmaceuticals Ltd. (BSE: 532296 | NSE: GLENMARK) is a global, research‐led pharmaceutical company with a unique focus on innovation and accessibility. We pioneer transformative breakthrough therapies that aim to redefine treatment while expanding access to high quality and affordable medicines for patients around the world. With 11 world-class manufacturing facilities across four continents, supported by six cutting-edge R&D centres, and a commercial footprint in 80+ countries, we deliver a diversified portfolio across branded, innovative, generics, and consumer health products, with a focus on respiratory, dermatology, and oncology. Scrip 100 positions Glenmark among the Top 100 biopharmaceutical companies globally by pharmaceutical sales for 2024. For more information, visit www.glenmarkpharma.com. For more information, please contact: Akhila Natarajan | mediarelations@glenmarkpharma.com Adfactors PR | glenmark.ihcp@adfactorspr.com Management Discussion & Analysis for the Second Quarter of FY 2026-27 Revenue Figures – Consolidated (In Rs. million) For the second quarter ended For the six months ended September 30 September 30 Growth Growth FY27 FY26 FY27 FY26 (%) (%) India1 13,274 1,651 704.2% 27,595 14,050 96.4% North America2 12,089 44,656 -72.9% 23,063 52,436 -56.0% Europe 7,920 7,460 6.2% 15,392 14,138 8.9% Emerging Markets# 8,769 6,585 33.2% 16,073 12,306 30.6% Total 42,052 60,352 -30.3% 82,122 92,930 -11.6% Other Revenue 421 117 261.0% 536 183 192.7% Consolidated 42,473 60,469 -29.8% 82,658 93,113 -11.2% Revenue 1. On a like-for-like basis, India formulation business recorded YoY growth of ~14% for Q2 FY27 and ~15% for H1 FY27. 2. North America revenue for Q2 and H1 FY27 includes deferred out-licensing income recognition for ISB 2001; Net of this, the core business YoY growth for the North America region was ~31% in Q2 FY27 and ~25% in H1 FY27. # Russia + CIS (RCIS), Latin America (LATAM), Middle East and Africa (MEA), Asia-Pacific (APAC) Average conversion rate in 6M FY 2026-27 considered as INR 95.05 / USD 1.00 Average conversion rate in 6M FY 2025-26 considered as INR 86.42 / USD 1.00 USD figures are only indicative Review of Operations for the Quarter ended September 30, 2026 For Q2 FY27, Glenmark’s consolidated revenue from operations was at Rs. 42,473 million (USD 444.5 million) as against Rs. 60,469 million (USD 699.7 million) in the corresponding quarter last year. On a like-for-like basis, Glenmark’s consolidated revenue in Q2 FY27 recorded YoY growth of ~20%. For H1 FY27, Glenmark’s consolidated revenue from operations was Rs. 82,658 million (USD 869.6 million) as against Rs. 93,113 million (USD 1,081.3 million) in the corresponding quarter last year. On a like-for-like basis, Glenmark’s consolidated revenue in H1 FY27 recorded YoY growth of ~18%. Management Discussion & Analysis: Q2 FY27 1 FORMULATION BUSINESS Glenmark’s global formulations business is supported by a well-diversified mix of Branded, Generics, and OTC products, with leadership positions in Dermatology, Respiratory, and Oncology. INDIA Sales from the formulation business in India for Q2 FY27 was at Rs. 13,274 million (USD 138.8 million) as against Rs. 1,651 million (USD 19.1 million) in the corresponding quarter last year. On a like-for-like basis, India formulation business recorded YoY growth of ~14% in Q2 FY27 and ~15% in H1 FY27. Glenmark continued to significantly outperform the IPM in terms of secondary sales as per IQVIA. Glenmark’s India formulation business recorded a growth of 16.7% in Q2 FY27 and 15.7% as per MAT SEP’ 2026, compared to IPM growth of 13.8% in Q2 FY27 and 12.1% in MAT SEP’ 2026. Glenmark continued to sustain strong growth in its core therapy areas like Dermatology, Respiratory, Cardiac and Oncology. VALUE GROWTH % VALUE GROWTH % (JUL’26 - SEP'26) (MAT SEP'26) SUPERGROUP IPM GLENMARK IPM GLENMARK CARDIAC 17.0 18.8 16.5 18.1 DERMATOLOGY 13.5 12.8 10.5 11.9 RESPIRATORY 4.6 9.6 9.1 11.2 DIABETES 17.7 -4.2 16.1 -3.9 Glenmark’s India business is ranked 13th with a market share of 2.4% as per IQVIA MAT SEP’ 2026. The Company has 11 brands in the IPM Top 300 Brands in the country as of IQVIA MAT SEP’ 2026. In terms of core therapy areas, Glenmark is ranked 2nd in Dermatology, 3rd in Respiratory and 4th in the Cardiac segment as per IQVIA MAT SEP’ 2026. Reflecting the growing strength of its Oncology fr [Showing first 8,000 characters — download PDF for full document]