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Glenmark Spins Out Business To Drive Value

 
• By Anju Ghangurde

Glenmark has drawn private equity interest for its carved out domestic orthopedic and pain management business as it seeks to fuel growth in these segments and pare debt via the proceeds. A similar strategy may be deployed for the firm's active pharmaceutical ingredients unit.

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GLENMARK HAS CARVED OUT CERTAIN BUSINESSES TO ROPE IN AN INVESTOR

Glenmark Pharmaceuticals Ltd. reported jaded first-quarter earnings, but the firm’s spin-out plans for certain businesses – the orthopedic and pain management segment to begin with – to help boost the franchise and drive value while also paring debt, drew considerable investor attention.

Home-grown private equity firm True North has “partnered” with Glenmark for the Mumbai-based firm’s orthopedic and pain management business in India and Nepal though details on equity sharing are not immediately clear

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