Glenmark Pharma weighs selling stake in Glenmark Life in bid to reduce debt
It has been aiming to reduce its debt, including through the sale of some dermatology brands to Eris Lifesciences for Rs 3,400 crore in January. In addition to the debt reduction, Glenmark also had regulatory requirements to meet, with the company expect to meet a promoter holding norm and cut its stake to 75% by August 2024.
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