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Glenmark completes acquisition of 100% stake in Zorg

17 Jul 2018 Evaluate

Glenmark Pharmaceuticals has completed the formalities for the acquisition of the equity stake and has acquired the 100% equity share holding of Zorg Laboratories (Zorg).

Earlier, the company had received an approval from its board on May 29, 2018 for the draft share purchase agreement to acquire 100% stake in Zorg for an aggregate consideration of Rs 5 lakh before adjustments and subject to legal and financial due diligence.

Zorg Laboratories is engaged in the business of dealing, distributing and marketing of all types of pharmaceutical and chemical products.

Glenmark Pharmaceuticals is a global pharmaceutical company. The company is engaged in the development of new chemical entities (NCEs) and new biological entities (NBEs). Its segments are India, United States, Latin America, Europe and Rest of the World (ROW).

Peers
Company Name CMP
Sun Pharma. Inds. 1752.50
Dr. Reddys Labs. 1180.00
Cipla 1305.00
Lupin 1942.00
Zydus Lifesciences 1115.20
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