 "Glenmark Pharmaceuticals")
Glenmark Pharmaceuticals is set to reward its shareholders after monetisation of its innovative and bulk drug business units, in a year, the company said.
The stock has plunged in recent months, despite efforts by the pharma major to pare net debt. The share price has declined 52 per cent on the BSE since January.
In February, the board gave an in-principle nod to hive off its innovation business into a new company in the US — a move expected to bring down debt, de-risk its investments, and improve focus on its base business.
The innovation subsidiary (yet to be named)
