Glenmark Pharma entered into a definitive agreement with Nirma Limited to divest a 75% stake in Glenmark Life Sciences at a price of ₹615/- per share for an aggregate consideration of ₹5,615 crore.
Glenmark Pharmaceutical said that the settlement will make clear that the company denies allegations by the Plaintiff groups.
Glenmark has launched Zita‐PioMet, India’s first triple fixed-dose combination for high insulin‐resistant type 2 diabetes.
The U.S. drug regulator has pointed out various lapses at Glenmark Pharma’s Goa facility, which produces drug formulations.
Bharat Biotech, founded by Krishna Ella and his wife Suchitra, has been at the forefront of making vaccines for a while. Yet it took a global pandemic for the spotlight to shine on the company.
Glenmark will continue to manage the business until the transaction is completed, and will also continue to manufacture for HUL for an agreed period of time.
The Nifty pharma index moved up sharply today, in what was a tepid trading day. The gains came as a surprise as top Indian companies faced new charges of price fixing in the US generic market.
