Glenmark Labels As ‘Speculative’ Report Of Talks To Sell API Unit Stake

Debt-laden Glenmark Pharmaceuticals has described as “speculative” a report that the firm is discussing with leading Indian family investment office PremjiInvest selling a minority stake in its newly hived-off API subsidiary. The company has promised to remain “proactive” in informing the Bombay Stock Exchange about corporate developments.

Cake
Glenmark Has Addressed Speculation That It Plans To Sell Off A Slice Of Its API Unit • Source: Shutterstock

Ailing Glenmark Pharmaceuticals, which has been seeking to divest a minority stake in its newly spun-off active pharmaceutical ingredient subsidiary to pare its nearly half-billion-dollar debt, has described as “speculative” a media report that it is in discussions with PremjiInvest, the family investment office of Indian software billionaire Azim Premji, about selling 25-30% of the unit for $150m.

Indian financial daily The Economic Times reported that talks were taking place with PremjiInvest, the country’s biggest family office which...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Generics Bulletin for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required

More from Deals

More from Business

Big Top-Level Shifts At Sun: Ganorkar Is MD, Ex-Takeda Exec To Helm US Business

 

Sun’s founder hands top job to company longtimer Kirti Ganorkar as the firm implements a “structured and forward-looking” succession plan, while Richard Ascroft will lead the Indian drugmaker’s North America business.

‘I Saw An Unpolished Diamond’: Iconovo CEO Wäborg On Breaking Even In 2027 And Beyond

 
• By 

In an exclusive interview, Iconovo CEO Johan Wäborg outlines the company’s strategy to become a leader in dry powder inhalation by focusing on platform development, reformulated therapies, and B2B licensing, with a plan to break even by 2027.

Lupin Looks To Expand In China With Respiratory Alliance

 
• By 

Lupin is planning to expand its footprint in China through a deal for a tiotropium dry powder inhaler with local player Sino Universal Pharmaceuticals.