Bharat Parenterals rises as subsidiary begins commercial supply to US market

Bharat Parenterals rose 1.20% to Rs 1,750.30 after its subsidiary, Innoxel Lifesciences, commenced commercial supply to the US market with the launch of its first contract manufacturing (CMO) product on 20 October 2026.

The product was manufactured at Innoxel's finished dosage facility in Vadodara, Gujarat, and launched by its sponsor partner. The company did not disclose the product name or sponsor's identity due to confidentiality obligations.

The launch marks Innoxel's transition from earning licensing income to generating recurring revenue from commercial supplies. The company expects to commercialise a second CMO product in FY27, with additional launches planned over the next two quarters and into FY28.

Innoxel reported revenue of Rs 72.4 crore in FY26, entirely from licensing. This included Rs 17.1 crore in upfront payments and Rs 55.3 crore linked to milestones.

The Vadodara facility received an Establishment Inspection Report from the US Food and Drug Administration in July 2025 and an EU-GMP certificate covering all four production lines in March 2026.

Innoxel signed 23 deals in FY26, comprising seven out-licensing agreements and 16 contract development and manufacturing (CMO/CDO) deals. Its total agreements since inception stood at 48. The company works with 19 active partners across the US, European Union and India.

Innoxel Lifesciences is a 55.9% subsidiary of Bharat Parenterals. It develops and manufactures complex and specialty generic medicines for regulated markets, with a focus on oncology and other complex therapeutic areas.

Gujarat-based Bharat Parenterals manufactures finished dosage formulations and exports to over 40 countries. Through its subsidiaries, the group operates in complex generics, branded generics, biologics and contract development and manufacturing, with products spanning sterile injectables, oral solids and specialty formulations.

On a consolidated basis, Bharat Parenterals' net profit declined 87.73% to Rs 1.01 crore while net sales declined 19.19% to Rs 93.74 crore in Q1 June 2026 over Q1 June 2025.

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