The European Union's (EU's) offer to slash tariffs on 97.5 per cent of Indian chemical exports to zero is set to give India's pharmaceutical and medical device firms preferential access to the European markets.
Concerns over weakening demand for Indian pharmaceutical (pharma) drugs in the US - their largest export market - have weighed heavily on investor sentiment this year. While the Nifty 50 has gained 6.02 per cent year - to - date (as on September 15), the Nifty Pharma index has declined 5.18 per cent, National Stock Exchange data shows.
Glenmark Pharmaceuticals on Thursday said it will sell a 75 per cent stake in its subsidiary Glenmark Life Sciences to Nirma Ltd for Rs 5,651.5 crore.
Glenmark Pharmaceuticals Ltd on Tuesday said it has acquired the approved generic versions of certain over-the-counter drugs from Wockhardt Ltd in the US. The acquisition by the company's fully-owned subsidiary Glenmark Pharmaceuticals Inc, USA includes the approved abbreviated new drug applications (ANDAs) for famotidine tablets, 10 mg and 20 mg used to treat and prevent ulcers in the stomach and intestine, the company said in a statement. The company, however, did not disclose the financial details.
'Growth for some companies has been hard to come by and this is a smart way to get there.'
Ahmedabad-based Nirma group and leading private equity firms have joined the race to acquire BSE-listed Glenmark Life Sciences. The acquisition by chemicals-to-cement major Nirma, if successful, would be a major boost for the health-care segment of the group, on the lines of its successful entry into the cement sector following its purchase of Lafarge India's assets for about Rs 9,400 crore in July 2016. It later followed up by buying Emami cement assets for Rs 5,500 crore in February 2020.
India is home to more than 100 million diabetics, and the demand for anti-diabetic drugs is on the rise -- the Rs 20,611 crore anti-diabetic drug market in India is growing at 9 per cent or so.
Nirma has roped in BCG and KPMG to advise it on the fundraising options for the acquisition. The company had earlier informed banks that it would raise Rs 5,000 crore to Rs 7,000 crore in the current financial year for the acquisition. Bankers said the company will rely on its funds and future GLS dividend to repay its debt for acquisition.
According to analysts, Glenmark will have to pay a penalty of $16 million, following the latest verdict.
The Drug Controller General of India has sent a letter to the Glenmark seeking clarifications on pricing as well as claims of therapeutic efficacy. While Glenmark has claimed this drug is effective in comorbid conditions like diabetes, hypertension, according to protocol summary (of clinical trials) the trial was not designed to access the Fabiflu in comorbid conditions.
Riluzole is indicated for the treatment of amyotrophic lateral sclerosis.
Among the commonly used analgesic formulations (painkillers) found NSQ are combinations of paracetamol with ibuprofen, diclofenac and mefenamic acid. Medications using these combinations are commonly used to treat fever, mild migraine, period and muscle pain.
Merck alleges violation of its patent for anti-diabetes drugs Januvia and Janumet.
As per the clinical trial protocol approved, 150 subjects with mild to moderate COVID-19 will be randomised in the study in a 1:1 ratio to Favipiravir with standard supportive care or standalone standard supportive care. Treatment duration is a maximum of 14 days and the total study duration will be a maximum for 28 days from randomisation.
Glenmark Holdings SA, a wholly-owned Swiss subsidiary of Glenmark Pharmaceuticals, has signed a deal to acquire majority shareholding (less than 90 per cent) of Czech firm Medicamenta.
It is the generic version of Teva Women's Health's Seasonale tablets
Glenmark Pharmaceuticals on Monday said its subsidiary Glenmark Pharmaceuticals SA has granted licence to Sanofi-aventis for developing drugs to treat chronic pain, for an initial payment of $20 million (about Rs 89 crore).
Glenmark Pharmaceuticals (Glenmark), which reorganised its speciality and generics businesses recently, is looking to acquire a medium to large-scale speciality pharmaceutical company in the US.
Glenmark Generics Inc has settled the litigation pending between the company and GSK over patent actions concerning atovaquone and proguanil hydrochloride 250mg/100mg tablets, the generic version of GSK's Malarone tablets, Glenmark Pharma said.
Glenmark Generics Inc USA, the subsidiary of Glenmark Generics Ltd has received nod for it's Hydrocortisone Butyrate Cream USP (0.1 per cent), abbreviated new drug approval from the United States Food and Drug Administration, Glenmark Pharmaceuticals said in a statement.
United States Food and Drug Administration (USFDA) has given final approval to Glenmark Generics Inc for their abbreviated new drug application (ANDA) for Norgestimate and Ethinyl Estradiol tablets USP in the strengths of 0.18 mg/0.035 mg, 0.215 mg/0.035 mg and 0.25/0.035 mg, the company said in a statement.
Glenmark Pharmaceuticals Ltd has informed BSE that the Board of Directors of the company at its meeting held on February 14, 2003 has approved divesting its wholly-owned subsidiary Glenmark Laboratories Ltd, including sale of its manufacturing Plant
Leading IT solution provider HCL Technologies Ltd has signed an agreement with Glenmark Pharmaceuticals Ltd for implementing its comprehensive drug labeling framework
Glenmark Pharmaceuticals Ltd on Monday said its wholly-owned Swiss subsidiary
In a bid to tap the potential in Latin America, Glenmark Pharmaceuticals Ltd has acquired Brazil-based Laboratorios Klinger, ranked among the top 50 in that country, for $5.2 million.\n\n\n\n
It can possibly be used to treat diseases like Arthritis and bowel disease.
The tailwind of low price erosion in the US generics market, seen by domestic pharmaceutical companies in calendar year 2023 (CY23), may be reversing slowly, caution analysts. According to the latest data from US-based Centers for Medicare and Medicaid Services (CMMS), price erosion in calendar year 2024 (CY24) on a year-to-date (YTD) basis stood at a high of 15 per cent in the oral solid dosage (OSD) segment compared to a low of 1 per cent in CY23. This erosion, according to a report by Antique Stock Broking, was the highest in the last three years.
Glenmark Pharmaceuticals has entered into an agreement with Shasun for joint development, filing and marketing of 12 generic drugs for the US market.
A sharp increase in interest costs has caused Glenmark Pharmaceuticals to post a consolidated net profit of Rs 80.9 crore for the second quarter, 31 percent lower than the Rs 117.3 crore for the previous corresponding quarter.
Under Glenmark's 2004 collaborative deal with Forest, the latter had the right to develop and sell the asthma and chronic obstructive pulmonary disorder drug in North America for an upfront payment and additional fees for each developmental milestone that could total $190 million in all. Upon commercialisation, Glenmark will retain the rights for selling the drug for the rest of the world while Forest will continue to sell the drug in North American.
Glenmark Pharmaceuticals Inc, has signed a $27 million royalty deal with international healthcare investment fund Paul Capital Partners' Royalty Fund to finance the development of 16 dermatological products by the pharma major for the US market.
Glenmark Pharmaceuticals, the Swiss subsidiary of Glenmark Pharmaceuticals, announced that it had successfully completed phase-I clinical trials for GRC 6211
Glenmark Pharmaceuticals on Monday announced its Swiss subsidiary has completed phase I clinical trials for GRC 6211, a pain reliever, and plans to launch the molecule in 2011.
In a bid to tap overseas market, Glenmark Pharmaceuticals Ltd's wholly owned US subsidiary has entered into a product development and marketing licence agreement with US-based K V Pharmaceutical Company
Glenmark Pharmaceuticals Ltd plans to divest its subsidiary Glenmark Laboratories Ltd to Mark Saldanha and his associates for Rs 350 million. It also plans to sell its manufacturing plant at Verna, Goa.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances