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According to analysts, the sale of Glenmark Life could impact the profitability of Glenmark Pharma in FY25 but lower interest payments could offset the impact. ICICI Securities said the company will use the proceeds to clear its outstanding debt of 4,340 crore as of FY23 but the transaction is likely to result in an earnings cut of 5% for FY25. The brokerage has a sell rating on the stock with a price target of 660. ....
Glenmark Pharmaceuticals has entered into a share purchase agreement with Nirma Limited to divest a 75% stake in Glenmark Lifesciences at a price of Rs 615 per share. ....
Glenmark Pharmaceuticals has entered into a definitive agreement with Nirma to divest a 75% stake in Glenmark Life Sciences for Rs 5,651.5 crore, at a price of Rs 615 per share, the company said in an exchange filing. ....
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.
Glenmark Pharmas stake in the leading active pharmaceutical ingredient (API) platform will drop to 7.84% from 82.84%. The transaction values the company at Rs 7,535.4 crore, a slight discount to the current market value of Rs 7,683 crore. The acquisition will trigger a mandatory open offer to all public shareholders of GLS for an additional 17%. ....