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Nirma had entered into a share purchase agreement dated September 21, 2023, with the Glenmark Pharmaceuticals and the target company Glenmark Life Sciences, whereby it agreed to acquire 9,18,95,379 shares, representing 74.84 per cent of the Voting Share Capital, subject to and in accordance with the terms and conditions contained in the SPA.
Glenmark Life Sciences on Tuesday said its net profit increased 13 per cent to Rs 119 crore for the third quarter ended December 2023. The company had reported a net profit of Rs 105 crore in October-December period of the last fiscal.
Indian drugmaker Glenmark Life Sciences posted a 13% rise in third-quarter profit on Tuesday, helped by a robust performance by its core active pharmaceutical ingredient business....
Get latest articles and stories on Business at LatestLY. Mumbai (Maharashtra) [India], September 22: Glenmark Pharmaceuticals Limited ("Glenmark Pharma"), a research-led, integrated, global pharmaceutical company has entered into a definitive agreement with Nirma Limited to divest 75% stake in its subsidiary, Glenmark Life Sciences Limited ("GLS"), at a price of INR 615/- per share for an aggregate consideration of INR 56,515 mn, subject to closing adjustments. Glenmark Pharma own 7.84% in GLS after the divestment. The transaction is subject to customary cl...
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.