** Shares of Gland Pharma GLAD.NS fall ~3.3% to 1462.8 rupees
** Co's Q3 revenue falls 10.4% on production setbacks at French unit Cenexi's site near Paris
** Cenexi sales down due to regulatory inspections, breakeven now pushed back by a year vs Q3 target
** Jefferies says Cenexi "continued to bleed" and India and US saw the biggest sales disappointment in Q3
** InCred Equities cuts to 'sell' from 'hold' on "repeated delays in Cenexi's turnaround"
** Citi retains 'sell' on GLAD's inablity to optimize its 'world class' injectables manufacturing set-up
** 10 analysts avg rating is 'hold', avg PT is 1671 rupees, implying ~13.5% upside to current price -LSEG data
** Including session's decline, stock down 27% in last 12 months
(Reporting by Ananta Agarwal in Bengaluru)
((Ananta.Agarwal@thomsonreuters.com))
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