Date: May 29, 2026

Board Meeting Outcomes

  • The Board of Glenmark Pharmaceuticals Limited, at its meeting held on May 29, 2026, approved the transfer of the Company's Nebulizer brands/IP portfolio to Glenmark Healthcare Limited (GHL), a wholly owned subsidiary of the Company.

Disinvestment / Strategic Actions

  • Nature of Transaction: Transfer of Nebulizer brands/IP portfolio
  • Entity Involved: Glenmark Healthcare Limited (GHL) - wholly owned subsidiary
  • Buyer Details: GHL, registered office at Glenmark House, B.D. Sawant Marg, Chakala, Andheri (East), Mumbai - 400099, India
  • Business Area: Manufacturing and marketing of Pharmaceutical Products
  • Financial Contribution: The Nebulizer business contributed approximately 1.3% of the Company's standalone revenue for the corresponding period
  • Net Worth: GHL business net worth as on March 31, 2026 was approximately negative ₹9.9 Crore
  • Agreement Date: June 1, 2026
  • Expected Completion Date: On or before June 30, 2026
  • Consideration: ₹223 Crore cash consideration, based on Independent Valuer report
  • Related Party Status: Yes, the transaction is with a related party
  • Arm's Length: Transaction is done at arm's length
  • Shareholding Impact: No change in the shareholding pattern of the Company

Rationale for Transaction

  • The Nebulizer business segment is registering robust growth across India and Emerging Markets, offering significant opportunity to scale
  • The Company aims to transfer complete ownership of its Nebulizer brands/IP portfolio to GHL
  • GHL is in the process of setting up a new dedicated Nebulizers manufacturing facility where these products will be manufactured
  • The proposed structure will enable sharper strategic focus, greater operational agility, and long-term value creation for all stakeholders
  • The subsidiary will house a portfolio of innovative Nebulizers including the world's first nebulized triple therapy for Chronic Obstructive Pulmonary Disease (COPD)
  • This consolidates Glenmark's leadership in respiratory innovation and commitment to making advanced, affordable, and accessible solutions for patients