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Glenmark Pharma, Glenmark Life: The fresh move, analysts said, may help Glenmark Pharma pare debt and increase its emphasis on branded or innovative products, they said.
According to a regulatory filing, Glenmark Pharmaceuticals has entered into a definitive agreement with Nirma to divest 75 percent stake in Glenmark Life Sciences for Rs 5,651.5 crore, at a price of Rs 615 per share.
Glenmark Pharmaceuticals Ltd (GPL) has agreed to divest 75 per cent stake in its subsidiary Glenmark Life Sciences to Nirma Limited at a price of Rs 615 per share, implying an equity valuation of Rs 7,535.4 crore.