Nirma to acquire a 75% stake in Glenmark Life Sciences from Glenmark Pharma for $680m.

Nirma, a group of companies manufactures customer-focused products, agreed to acquire a 75% stake in Glenmark Life Sciences from Glenmark Pharma, a research‐led, integrated, global pharmaceutical company, for $680m. "We are pleased to announce this strategic transaction with Nirma, which marks a significant milestone in shaping an independent growth trajectory for GLS. This deal aligns with our strategic intent of moving up the value chain to become an innovative/brand led organization, with continuous focus on our core therapeutic areas of dermatology, respiratory and oncology. It also presents an opportunity for us to strengthen shareholder value through deleveraging and enhancing our overall return profile,” Glenn Saldanha, Glenmark Pharmaceuticals Chairman and Managing Director.