Zydus Lifesciences Ltd.Record Profitability & Specialty Pivot

Zydus Lifesciences delivered a stellar FY26 performance with consolidated revenues of ₹271.5 billion, up seventeen percent year-on-year, and record EBITDA margins of 31.2 percent, improving eighty basis points despite a high base.

The base business grew in double digits even excluding acquisitions, demonstrating organic strength. India branded formulations outperformed the market with fifteen percent growth, while the chronic portfolio now comprises 46.3 percent of the mix, up 620 basis points over three years. Management announced the proposed acquisition of Assertio Holdings to accelerate US specialty oncology strategy through Rolvedon, an approved biologic providing immediate commercial scale.

The company launched Tishtha, the world's first Nivolumab biosimilar, at one-fourth the reference cost. For FY27, management guides high teens consolidated revenue growth with EBITDA margins exceeding twenty-four percent, expecting India to outperform market by 200-400 basis points. The specialty transformation remains on track with non-generic specialty portfolios positioned as meaningful growth drivers over the next three to five years.