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Glenmark Pharma Shares Fall As It Plans To Sell Life Sciences Business

Shares of Glenmark Pharmaceuticals Ltd. fell the most in four months after it agreed to sell 75% stake in its life sciences subsidiary to Nirma Ltd. for Rs 5,651.5 crore The pharma company will sell shares of Glenmark Life Sciences Ltd. at Rs 615 apiece, according to an exchange filing. Glenmark Pharma will own 7.84% after the transaction. The deal, subject to customary approvals, is expected to close in FY24.

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Bearish sentiment hits pharmaceutical stocks on profit booking, heavy call writing in Cipla

Despite the broader market s resilience, the pharmaceutical sector exhibits a strong bearish sentiment, characterised by short positions in Glenmark, Cipla, Alkem, and Dr Reddy s

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Glenmark Pharma sale of Glenmark Life Sciences: What it means for investors?

Glenmark Pharma sale of Glenmark Life Sciences: What it means for investors?
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Glenmark Pharma to sell 75% stake in Glenmark Life Sciences to Nirma for Rs 5,652 cr

Glenmark Pharma will own 7.84% in GLS after the divestment; pursuant to the transaction, Nirma Limited will make a mandatory open offer to all public shareholders of GLS

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Glenmark board approves to sell 7% in Glenmark Life Sciences to Nirma for Rs 5,651 5 crore

NEW DELHI: Glenmark Pharmaceuticals on Thursday said it will sell a 75 per cent stake in its subsidiary Glenmark Life Sciences to Nirma Ltd for Rs 5,6.

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