CCI green lights Nirma Ltd's acquisition of Glenmark Life Sciences
New Delhi: The Competition Commission of India (CCI) on Tuesday gave its nod to Nirma Limited to acquire the majority shares of Glenmark Life Sciences Limited.
Nirma Limited plans to acquire these shares by purchasing them from Glenmark Life Sciences' promoter and from public shareholders through an open offer, the antitrust watchdog said in a statement.
Nirma Limited has a diverse presence and operations in India and the USA, involved in various products such as soda ash, soaps, detergents, salt, caustic soda, Linear Alkyl Benzene, and other industrial items.
On the other hand, Glenmark Life Sciences is primarily involved in the development, manufacturing, and sale of Active Pharmaceutical Ingredients (APIs) and intermediaries.
It also provides contract development and manufacturing organization (CDMO) services for APIs.
The company's portfolio includes over 130 APIs catering to chronic therapeutic segments like cardiovascular disease, central nervous system disorders, pain management, and anti-diabetics.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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