Glenmark Spins Out Business To Drive Value
Glenmark has drawn private equity interest for its carved out domestic orthopedic and pain management business as it seeks to fuel growth in these segments and pare debt via the proceeds. A similar strategy may be deployed for the firm's active pharmaceutical ingredients unit.
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A busy stretch of deal-making across Asia all includes transactions involving Innovent, Alector, Ono, Numab, Alphamab, 3DMed, Healios, Athersys, Laekna, Novartis, Asahi Kasei, SBI Biotech, Glenmark, Hindustan Unilever, Hanlim, Alteogen, Ildong, Evotec, AJU Pharm, Ribomec, Tyligand, Context
Glenmark has struck a deal with private equity firm True North for its gynecology business in India and Nepal.
Private equity group True North continues to back the Biocon group and is picking up a minority stake in Biocon Biologics in a deal that values the subsidiary at $3bn. Separately, another subsidiary, Biocon Biosphere, has also been set up as part of efforts to unlock the full potential of the business.