Liven Pharma Limited
By PSX Investors Zone · Updated October 27, 2026
Liven Pharma Limited (PSX: LIVEN), formerly Landmark Spinning Industries Limited, is a Pakistani pharmaceutical manufacturer incorporated in 1991. Its business includes pharmaceutical and allied products, with plans and collaborations related to pharmaceutical manufacturing expansion. In FY2026, revenue declined to Rs. 105.81 million, but the net loss narrowed significantly to Rs. 31.14 million. Investors should monitor sales recovery, margins, cash generation, expansion plans, and future quarterly results.
Company Overview
Liven Pharma Limited (PSX: LIVEN) is a Pakistan-based pharmaceutical company incorporated on October 21, 1991, originally under the name Landmark Spinning Industries Limited. The company was converted into a public limited company in April 1992 and subsequently changed its name and principal business to pharmaceuticals.
Following a court-sanctioned scheme of arrangement, the business and operations of Liven Pharmaceuticals (Private) Limited were amalgamated into the listed company. The company's principal activity is now the manufacturing of pharmaceuticals and allied products.
- PSX symbol: LIVEN
- Sector: Pharmaceuticals
- Year incorporated: 1991
- Former name: Landmark Spinning Industries Limited
- Registered office: 49-Km, Multan Road, Lahore, Pakistan
- Official website: https://www.liven-pharma.com/
- Official PSX profile: https://dps.psx.com.pk/company/LIVEN
Business Operations
Liven Pharma manufactures pharmaceutical and allied products. Pharmaceutical manufacturing requires compliance with applicable quality standards, product registrations, manufacturing requirements, and regulatory oversight.
The company has discussed strategic expansion and collaborations aimed at developing its pharmaceutical capabilities. These initiatives include plans associated with active pharmaceutical ingredients (APIs) and dry powder injectables.
Investors should distinguish between a signed memorandum of understanding, a project under development, and an operational facility generating commercial revenue. An MoU alone does not establish that a project has received every necessary approval, completed construction, or started generating earnings.
Official references:
FY2026 Financial Performance
For the financial year ended June 30, 2026, Liven Pharma reported the following results:
| Financial metric | FY2026 | FY2025 |
|---|---|---|
| Sales revenue | Rs. 105.81 million | Rs. 127.27 million |
| Cost of sales | Rs. 79.16 million | Rs. 109.31 million |
| Gross profit | Rs. 26.65 million | Rs. 17.96 million |
| Operating loss | Rs. 77.14 million | Rs. 490.90 million |
| Loss after taxation | Rs. 31.14 million | Rs. 584.46 million |
| Loss per share | Rs. 0.28 | Rs. 7.11 |
Revenue declined by approximately 16.9%, while gross profit increased by around 48.4%. The net loss narrowed by approximately 94.7%, from Rs. 584.46 million to Rs. 31.14 million.
The improvement in reported earnings is significant, but the company remained loss-making. Investors should also consider that FY2025 included substantial expenses associated with the reverse-acquisition and restructuring process. The year-on-year comparison therefore needs to be interpreted in the context of those exceptional and transaction-related items.
Sources:
Profitability and Cash Flow
Liven Pharma's FY2026 gross-profit improvement suggests that its reported cost of sales decreased faster than revenue. However, gross profit was not sufficient to cover all operating expenses and other costs, and the company still reported a net loss.
Reported FY2026 operating cash flow was approximately Rs. 8.99 million, compared with negative operating cash flow of approximately Rs. 1.72 million in FY2025. This is an improvement in cash generated from operations, but it should be assessed alongside capital expenditure, working-capital movements, and the company's future investment requirements.
The company also reported accumulated losses. Investors should review its audited financial statements to understand its retained earnings, liquidity, financing arrangements, and the sustainability of the improvement.
Source: Liven Pharma FY2026 disclosures.
Pharmaceutical Expansion and Strategic Collaborations
In June 2026, Liven Pharma disclosed the signing of an MoU with China's Tofflon, relating to its pharmaceutical development plans. The company has also discussed strategic initiatives involving pharmaceutical manufacturing, including dry powder injectables and API-related opportunities.
Potential expansion may create opportunities if projects are successfully implemented, appropriately approved, and commercially viable. However, the financial effect depends on project costs, completion timelines, regulatory approvals, product registrations, production capacity, and customer demand.
Investors should follow subsequent official disclosures to establish whether these plans have progressed beyond preliminary agreements.
Official reference: PSX company announcements.
Dividend History
Liven Pharma recommended no cash dividend, bonus shares, or rights shares for FY2026.
The company remained loss-making during the year and may need to preserve funds for operational requirements and its proposed expansion projects. Investors should not assume that future dividends will be announced unless supported by an official board recommendation and the required corporate approvals.
Check the PSX corporate-action section for any subsequent dividend announcements, entitlement dates, or payment notices.
Source: LIVEN official PSX profile and payouts.
Latest Announcements and Upcoming Results
The official PSX company page includes financial statements, corporate announcements, and notices relating to Liven Pharma.
As of October 27, 2026, investors should check the latest PSX notices for any board meeting or results announcement concerning the quarter ended September 30, 2026. Do not treat an expected earnings date on a financial-data website as confirmation that results have been published.
Useful links:
Share Price and Valuation
LIVEN's market price, market capitalization, trading volume, and book-value ratios change with market conditions. Check the latest PSX quote before publishing a current share-price statement.
Because Liven Pharma reported a loss per share of Rs. 0.28 for FY2026, its trailing P/E ratio based on those earnings is not meaningful in the usual way. Other measures, such as price-to-book value, may provide additional context, but they must be assessed alongside the company's losses, growth prospects, and execution risks.
A large reduction in losses does not automatically mean that a company has returned to sustainable profitability or that its shares are undervalued.
Official reference: PSX LIVEN profile.
Support and Resistance
Support and resistance levels should be based on an updated price chart, recent swing highs and lows, trading volume, and price behaviour. Avoid publishing fixed price levels without checking current market data.
For LIVEN, technical analysis should be considered alongside its financial performance, liquidity, and the execution risks associated with expansion projects. Technical levels are estimates, not guaranteed price floors or targets.
Key Risks for Investors
- Continuing losses: Despite a much smaller loss in FY2026, the company has not yet returned to profitability.
- Revenue decline: FY2026 sales decreased by approximately 16.9%.
- Execution risk: New manufacturing projects and strategic collaborations may take time to generate commercial revenue.
- Regulatory requirements: Pharmaceutical products and facilities must comply with applicable regulatory and quality requirements.
- Customer concentration: The FY2026 results commentary reported that two customers accounted for approximately 59% of sales, creating a concentration risk.
- Product and inventory risk: Provisions for obsolete finished goods and expected credit losses were reported in the FY2026 disclosures.
- Capital allocation: Expansion may require funding before the expected commercial benefits are realized.
Investors should read the latest annual report and quarterly financial statements before drawing conclusions about the company's financial outlook.
Frequently Asked Questions
What is the PSX symbol of Liven Pharma Limited?
Its Pakistan Stock Exchange symbol is LIVEN.
What did Liven Pharma Limited do before entering pharmaceuticals?
The listed company was formerly known as Landmark Spinning Industries Limited and previously operated in the textile-spinning business. It subsequently changed its name and principal business to pharmaceuticals.
What were Liven Pharma's FY2026 results?
The company reported sales of approximately Rs. 105.81 million, gross profit of Rs. 26.65 million, a net loss of Rs. 31.14 million, and a loss per share of Rs. 0.28.
Did Liven Pharma return to profitability in FY2026?
No. Its net loss narrowed substantially, but it still reported a loss after taxation of approximately Rs. 31.14 million.
Did Liven Pharma announce a dividend for FY2026?
No. The board recommended no cash dividend, bonus shares, or rights shares for the financial year ended June 30, 2026.
What are Liven Pharma's expansion plans?
The company has disclosed strategic collaborations and plans relating to pharmaceutical manufacturing, including opportunities involving APIs and dry powder injectables. Investors should verify the status and commercial progress of these initiatives through official disclosures.
Where can investors find LIVEN's official financial reports?
Visit the official PSX company page and the Liven Pharma website.
Disclaimer: This profile is for educational and informational purposes only and is not investment advice. Financial figures, market prices, dividend announcements, regulatory matters, and project developments should be verified against the latest official disclosures before publication or investment decisions.
This profile is for educational purposes and is not a recommendation to buy or sell any security.