The Cabinet Committee on Economic Affairs (CCEA) has approved foreign investments in Glenmark Pharmaceuticals. The company has increased the foreign investment limit by FIIs from 35.07% to 49%. This will result in an inflow of about Rs 2,022 crore.
Apart from manufacturing pharmaceuticals, the company is also engaged in Research and Development activities in drugs. Glenmark Pharmaceuticals is a $1 billion Indian pharmaceutical company, with a global presence with manufacturing facilities in India, Europe and South America.