Glenmark pharma to become net cash positive post the GLS divestmentGLENMARK - 771 Change: -15.90 (-2.02 %)
News: Glenmark pharma is selling a 75% stake in Glenmark Life Sciences Ltd to Nirma Ltd for ₹ 5652 crore at ₹ 615 per share and will own 7.84% in GLS after the divestment. The deal marks Glenmark’s strategic intent of moving up the value chain to become an innovative/brand led organisation, with continuous focus on core therapeutic areas of dermatology, respiratory and oncology.
Views: Glenmark pharma is set to become cash positive and see improved return ratios (ex-cash). GLS got listed in 2021, manufactures APIs. Nirma products range from soaps to cement, will make a mandatory open offer to all public shareholders of Glenmark Life Sciences.