Life sciences Financial News

₹815.95 against the previous close of ₹828.05 and fell 5.45 per cent to the level of ₹782.90 on BSE. As Mint reported, Glenmark Pharmaceuticals announced on Thursday (September 21) that it would sell a 75 per cent stake in its subsidiary unit Glenmark Life Sciences, to Nirma for ₹615 per share for an aggregate consideration of ₹5.651.75 crore. The Mumbai-based drugmaker will continue to own a 7.84 per cent stake in Glenmark Life Sciences with the stake reduction.

₹625.10 against the previous close of ₹627.10 and slipped 2.3 per cent to the level of ₹612.75. On Thursday (September 21), the company said Nirma had agreed to buy a 75 per cent stake in it for ₹5,651.5 crore in a deal that values the company at ₹7,535.4 crore. Mint reported first on 15 August that the cement-to-detergent maker was the sole bidder for the stake put on the block by parent Glenmark Pharmaceuticals Ltd, which is selling shares to Nirma at ₹615 apiece.

MUMBAI : Nirma Ltd has agreed to buy 75% of Glenmark Life Sciences Ltd for ₹5,651.5 crore in a deal that values the latter at ₹7,535.4 crore. Mint reported first on 15 August that the cement-to-detergent maker was the sole bidder for the stake put on the block by parent Glenmark Pharmaceuticals Ltd, which is selling shares to Nirma at ₹615 apiece. Glenmark Pharma will continue to own 7.84% of Glenmark Life Sciences.

Glenmark Pharmaceuticals will sell 75% stake in its subsidiary Glenmark Life Sciences to Nirma Limited, for Rs 5652 crore, at a price of INR 615 per share, stated a company press release. Glenmark Pharma will own 7.84% in GLS after the divestment.

Glenmark Pharmaceuticals announced on Thursday, September 21, that it would sell a 75 per cent stake in its subsidiary unit Glenmark Life Sciences, to Nirma for ₹615 per share for an aggregate consideration of ₹5.651.75 crore. The Mumbai-based drugmaker will continue to own a 7.84 per cent stake in Glenmark Life Sciences with the stake reduction.

Meta CEO Mark Zuckerberg's philanthropy venture plans to build a computing system powered by artificial intelligence for life sciences research to study human cells and diseases. The Chan Zuckerberg Initiative, created by Zuckerberg and his wife Priscilla Chan, will use the computing system to run openly available AI models, the philanthropy venture said on Tuesday.

(Reuters) — Meta (NASDAQ:META) CEO Mark Zuckerberg's philanthropy venture plans to build a computing system powered by artificial intelligence for life sciences research to study human cells and diseases.

The strategy will aim to outperform the MSCI World Health Care index by at least 2% per annum over the course of a market cycle.

Biotech deals which fetch 20-times sale multiples give Street Talk the tingles: here’s a new name to watch.

Motilal Oswal Financial Services (MOFSL) has acquired an entire standalone commercial tower with 12 upper floors spread over nearly 1,10,000 sq ft in the financial hub of Ahmedabad from Claris Life Sciences to support its growth and expansion plan. The property spread over 0.56 acres will house Motilal Oswal Tower, which is the company's third such property after its independent commercial towers in Mumbai and Bengaluru. The company has acquired the brownfield project on Ahmedabad's Sindhu Bhavan Road in bare shell condition. The financial services major will now take the construction ahead and expects to complete the project latest by September 2024. «We have our offices spread over various locations in Gujarat,» Motilal Oswal, group MD & CEO, Motilal Oswal Financial Services, told ET.

₹5,784.5 million for the June ended quarter (Q1FY24), up 18% year-on-year. Net profit during the period stood at ₹1,354.5 million, a 24% increase on year. The active pharmaceutical ingredients (API) manufacturing arm of Glenmark Pharmaceuticals (GPL) saw a 14.1% YoY rise in cost of raw materials to ₹2,982.13 million in the current fiscal year.

FTX’s efforts to claw back customer funds are continuing. Alameda Research and FTX filed suit on July 19 seeking the return of $71.6 million in allegedly commingled corporate and customer funds related to investments and donations to life sciences companies.