Leading Indian pharma company Glenmark has approved the sale of 75% stakes in GLS. Read More>>
Glenmark Pharma approves 75% stake sale in Glenmark Life Sciences to Nirma at Rs 615 per share, a game-changing decision.
Glenmark Pharma retains 7.84% stake in GLS as Nirma steps in, honoring SEBI's requirement to reduce the stake to 75% by August 2024.
Glenmark Pharma adapts to the changing generics landscape, and focuses on branded products, while GLS aims for API excellence
Glenmark Pharma aims to become net cash positive, using proceeds to repay debt after the deal, strengthening its financial position.
Nirma's foray into healthcare and pharmaceuticals gains momentum with the acquisition of GLS, complementing its growth strategy.
GLS reports robust Q1 2023-24 results, with revenues up 18% YoY, showcasing its prowess in chronic therapeutic segments and global API distribution.
Source: Business Standard