Glenmark Divests API Company, Setting Out On Distinct Journeys
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.”
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India’s Glenmark is hoping that its proposed generic version of GlaxoSmithKline’s Flovent will benefit from a limited competition market, as it continues to plan a filing with the US Food and Drug Administration.
The founder and MD of investment bank Candle Partners reflects on key pharma M&A trends over the years and the shape of things to come including private equity action and how family-owned firms are weighing monetization and diversification options.
India’s healthcare and life sciences segment saw deals worth over $3bn in Q2 2023 turbocharged by private equity activity in the hospitals space and smaller biopharma acquisitions. Watch the APIs and brands space for heightened M&A action, say experts.