1. Scrip
  2. >>Business

Glenmark Divests API Company, Setting Out On Distinct Journeys

 
• By Anju Ghangurde

Glenmark Pharmaceuticals has divested its API arm to the Nirma group for over $681m, a move that will deleverage the drug maker’s balance sheet as it seeks to evolve into an “innovative/brand led organization.”

Glenmark sheds API business • Source: Shutterstock

Glenmark Pharmaceuticals Limited has divested its active pharmaceutical ingredients (API) business to the diversified Indian group Nirma Limited for INR56.51bn ($681m), ending long-running speculation of an imminent deal.

In a late evening announcement on 21 September, Glenmark said it had struck a definitive agreement with Nirma to sell a 75% stake in its listed API arm, Glenmark...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip 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
Start Free Trial

Already a subscriber?

More from Business

BREAKING NEWS: Sanofi Bets $9.5bn To Bag Blueprint

 
• By Kevin Grogan

Buy boosts the French major's immunology pipeline.

Quick Listen: Scrip’s Five Must-Know Things

 
• By Ian Haydock

In this week's episode: a preview of major ASCO readouts; Roivant stays patient in deals; Lilly diversifies pain pipeline with SiteOne acquisition; Nucala gets US COPD nod; and women in Indian pharma.

Summit’s Ivonescimab Shows Significance On PFS, But Not Overall Survival

 
• By Joseph Haas

In a study intended to show similar benefit in western patients, PD-1/VEGF-targeting ivonescimab met a progression-free survival endpoint, but missed on OS.

Sanofi Bid For Second COPD Approval Hurt By Mixed Itepekimab Data

 
• By Kevin Grogan

One Phase III trial hits but a second study misses by a mile.

More from Scrip

ASCO: Rusfertide Inches Toward FDA Filing With Positive 32-Week Data

 
• By Alaric DeArment

Takeda/Protagonist are awaiting 52-week data to confirm the results from the VERIFY trial of the drug in polycythemia vera.

ASCO: Trodelvy First-Line TNBC Data Seen As Potentially Practice-Changing

 
• By Alaric DeArment

Gilead chief medical officer Dietmar Berger said in an interview that the company plans to quickly take the results to regulators and foresees broad first-line use of the drug.

ASCO: Merck’s Zilo-V Shows Activity, But Numbers Still Small

 
• By Alaric DeArment

The drug boosted overall responses on top of the R-GemOx backbone, but the discussant pointed out that patients in waveLINE-003 were not very heavily pretreated.