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.
Experts increasingly have said that the demand for Covid self-test kits is falling in India due a variety of reasons, its pricing structure being one of them.
"Industry insiders and investors will probably not be rattled by the news as was evidenced by Biocon share price being largely unaffected by the charge, " said analyst Salil Kallianpur.
Adani group’s involvement in healthcare is now new. Adani Foundation is the CSR arm of the Adani Group which is committed to community health, along with other social areas like education.