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Glenmark Pharmaceuticals informs about disclosure

29 Mar 2025 Evaluate
Glenmark Pharmaceuticals has informed that IGI Inc., wholly owned subsidiary of Glenmark Pharmaceuticals (the Company) has announced its plans to cease all CMC development and clinical supplies manufacturing at its facility in La Chaux-de-Fonds, Switzerland. In accordance with the Listing Regulations and SEBI Circular No SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, regarding the disclosure by listed entities under Regulation 30 of the Listing Regulations, we are providing the details of the intended closure of the aforementioned manufacturing facility herein below: Date of such binding agreement, if any, entered for sale of such unit/division, if any - Not Applicable ; Amount & percentage of turnover or revenue or income and net worth of the listed entity contributed by such unit or division during the last financial year – Turnover of plant - Rs. NIL (material is only used for captive consumption) Percentage to consolidated turnover of Company (1 April 2023 to 31 March 2024): NA Net worth of plant - Rs. 223.52 million (as of 31 March 2024); Estimated date of closure - 31 July 2025; Reasons for closure - IGI is progressing its pipeline and it is anticipated that higher quantities of finished product will be required for future clinical programs. IGI CMC development and manufacturing of ongoing and future clinical programs will be moved to a network of well-established Contract Development and Manufacturing Organizations (CDMOs); This closure will not adversely affect the Consolidated financials of the Company.

The above information is a part of company’s filings submitted to BSE.

Glenmark Pharma Share Price

2247.90 -1.65 (-0.07%)
17-Apr-2026 16:59 View Price Chart
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