ALIVUS

Jan 23 (Reuters) - Alivus Life Sciences Ltd ALIV.NS:

• DEC-QUARTER PROFIT 1.37 BILLION RUPEES

• DEC-QUARTER REVENUE FROM OPERATIONS 6.42 BILLION RUPEES

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** Shares of Glenmark Life Sciences GLEM.NS climb 3.5% at 971.20 rupees

** Brokerage Kotak Institutional Equities upgrades stock to "Buy" from "Reduce"

** GLEM's near-term outlook is intact as it continues to step up investments in capacity addition under Nirma, brokerage says

** Adds, new client wins in ts contract manufacturing segment, along with a rich API portfolio will be key growth drivers for the company in near term

** GLEM's stock fell 10% last week after downbeat Q2 results due to a temporary shutdown of its biggest manufacturing facility in Gujarat

** Analysts' avg rating on GLEM at "buy"; peers Laurus Labs LAUL.NS and Divi's Laboratories DIVI.NS rated "Hold" - LSEG data

** GLEM's ~48% YTD gain bigger than LAUL's ~15% climb but smaller than DIVI's ~49% rise

(Reporting by Kashish Tandon in Bengaluru)

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** Shares of Glenmark Life Sciences GLEM.NS drop 10% to 936.90 rupees

** Stock set for worst day ever if losses hold

** API maker's Q2 profit fell ~20% YoY, rev from ops down ~15% YoY

** GLEM said temporary closure of a manufacturing facility in Gujarat hurt revenue across geographies

** Trading volume at 2.1x the 30-day moving avg

** Analysts' avg rating on GLEM at "buy"; peers Laurus Labs LAUL.NS and Divi's Laboratories DIVI.NS rated "hold" - LSEG data

** GLEM's 43% YTD gain bigger than LAUL's ~10% climb but smaller than DIVI's ~48% rise

(Reporting by Kashish Tandon in Bengaluru)

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Oct 24 (Reuters) - Glenmark Life Sciences Ltd GLEM.NS:

• Q2 PROFIT 953.2 MILLION RUPEES

• Q2 REVENUE FROM OPERATIONS 5.07 BILLION RUPEES

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Oct 9 (Reuters) - Glenmark Life Sciences Ltd GLEM.NS:

• GLENMARK LIFE - CHANGE OF NAME OF CO TO "ALIVUS LIFE SCIENCES LIMITED"

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Aug 5 (Reuters) - Glenmark Life Sciences Ltd GLEM.NS:

• GLENMARK LIFE - STAKE OF PROMOTER IN CO REDUCED FROM 75.00073% TO 74.99982%

• GLENMARK LIFE - CO HAS BECOME COMPLIANT WITH MINIMUM PUBLIC SHAREHOLDING REQUIREMENTS

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July 25 (Reuters) - Glenmark Life Sciences Ltd GLEM.NS:

• ISSUE OF CLOSURE NOTICE FOR OUR ANKLESHWAR FACILITY BY GPCB

• GUJARAT POLLUTION CONTROL BOARD ORDERED NOT TO CARRY PRODUCTION AT FACILITY

• ACTIVELY ENGAGED IN ADDRESSING MATTER

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July 4 (Reuters) - Glenmark Life Sciences Ltd GLEM.NS:

• GLENMARK - ENTERED INTO A LETTER AGREEMENT WITH GLENMARK PHARMACEUTICALS AND NIRMA

• GLENMARK LIFE - AGREEMENT AMENDS EARLIER SHARE PURCHASE AGREEMENT

• GLENMARK LIFE - AGREEMENT HAS WAIVED CONTRACTUAL RESTRICTION IMPOSED ON SELLER

• GLENMARK LIFE - IF SELLER IS NOT ABLE TO COMPLETE SALE OF SHAREHOLDING, RESTRICTIONS SHALL BE REINSTATED

• GLENMARK LIFE - RESTRICTION WAIVED TO FACILITATE COMPLIANCE WITH MINIMUM PUBLIC SHAREHOLDING REQUIREMENTS

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BENGALURU, May 15 (Reuters) - Drugmaker Granules India GRAN.NS posted a 1.6% fall in fourth-quarter revenue on Wednesday, hurt by a decline in paracetamol sales and price erosion.

The company's consolidated revenue fell year-on-year to 11.76 billion rupees (nearly $141 million) for the three months to March 31.

Granules, which focuses on making active pharmaceutical ingredients (API), holds 30% of the global market for Paracetamol. It makes the drug's API as well as the finished dosage - the ready-for-consumption product.

Still, weak sales of the drug and price erosion due to heightened competition hurt its revenue. This is despite analysts expecting Indian API makers, including Granules, to benefit from increasing demand from Europe and the U.S., the industry's biggest markets.

Shares fell as much as 2.6% after it reported its results.

Rivals Glenmark Life Sciences GLEM.NS and Laurus Labs LAUL.NS posted lower fourth-quarter profits.

Glenmark's revenue was hit by issues stemming from the Red Sea crisis while Laurus was challenged by multiple factors including a decline in selling prices of antiretroviral products.

A 9.5% drop in Granules' raw material expenses, meanwhile, helped its quarterly profit climb 8.4% to 1.30 billion rupees.

API makers use a variety of chemicals in their formulations, including hydrochloric acid and chloroform, accounting for a majority of the drug-makers' input costs.

The easing costs had helped its profit marginally climb in the third quarter as well, before which profit fell for two straight quarters.

($1 = 83.4750 Indian rupees)

(Reporting by Varun Hebbalalu in Bengaluru; Editing by Janane Venkatraman )

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** Shares of Laurus Labs LAUL.NS close 2% lower to 425.9 rupees

** Co's March-qtr profit fell roughly 26.6% YoY, its fifth straight quarterly profit drop

** Rival Glenmark Life Sciences GLEM.NS also posted Q4 profit drop on the day; its stock dropped after results

** Analysts' avg rating on LAUL stock is "hold", and is "buy" on GLEM - LSEG data

** LAUL flips to YTD loss, down 1% so far this year; GLEM up 18% from last year

(Reporting by Varun Vyas in Bengaluru)

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** Shares of pharmaceutical firm Laurus Labs LAUL.NS rise as much as 7.9% to 448 rupees, highest since Nov. 28, 2022

** Stock on track for fourth consecutive session of gains

** Reuters could not immediately ascertain a reason for the move

** Stock top gainer in Nifty pharma index .NIPHARM, which is trading flat

** Stock most active since Jan. 25; more than 6.9 mln shares change hands by 1:59 p.m. IST, 3.9x the 30-day avg

** Avg rating of 10 analysts equivalent of "hold", median PT is 333 rupees - LSEG data

** Among peers, Granules India GRAN.NS rated "strong buy" while Glenmark Life Sciences GLEM.NS is rated "buy" - LSEG

** LAUL fell 8.8% in March quarter vs 12.9% rise in Nifty pharma index

(Reporting by Ashish Chandra in Bengaluru)

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March 12 (Reuters) - Glenmark Life Sciences Ltd GLEM.NS:

• NIRMA ACQUIRES MAJORITY STAKE IN GLENMARK LIFE SCIENCES

• NIRMA COMPLETES ACQUISITION OF 75% OF SHARE CAPITAL FROM GLENMARK PHARMACEUTICALS

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March 6 (Reuters) - Glenmark Life Sciences Ltd GLEM.NS:

• GLENMARK LIFE SCIENCES LTD - GLENN SALDANHA TENDERED HIS RESIGNATION AS CHAIRMAN

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MUMBAI, Feb 21 (Reuters) - India's Nirma NIRMA.UL has accepted bids aggregating to 35 billion rupees ($422 million) for a three-part shorter-tenor bonds to fund its acquisition of a 75% stake in Glenmark Pharma's GLEN.NS life sciences unit, three bankers said on Wednesday.

Earlier in the day, the detergent maker had invited bids for bonds maturing in one year and two days, two years, one month and 16 days, and in three year, one month and 16 days.

The company will pay an annual coupon of 8.30%, 8.40% and 8.50%, respectively, to investors of the bond issue.

Axis Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Aditya Birla Finance, Aditya Birla Sun Life Mutual Fund, Kotak Mutual Fund, Nippon India Mutual Fund, SBI Mutual Fund were the anchor investors to the issue, according to bankers.

In September, Glenmark Pharma said it would sell a 75% stake in Glenmark Life Sciences GLEM.NS to Nirma for 56.52 billion rupees. The deal is expected to be completed in the current financial year. nL4N3AX38V

Crisil Ratings has assigned an "AA" rating for the proposed issue after factoring in the company's intent to diversify its business via the proposed acquisition.

The coupon will step up by 25 basis points for every notch downgrade in the ratings of the bonds.

Nirma last tapped the bond market in July 2022, when it raised 1 billion rupees via bonds maturing in 18 months at a coupon of 7.59%.

Here is the list of deals reported so far on Feb. 21:

*Size includes base plus greenshoe for some issues

($1 = 82.9270 Indian rupees)

(Reporting by Bhakti Tambe; Editing by Varun H K)

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HYDERABAD, Jan 23 (Reuters) - Indian drugmaker Glenmark Life Sciences GLEM.NS posted a 13% rise in third-quarter profit on Tuesday, helped by a robust performance by its core active pharmaceutical ingredient (API) business.

The Mumbai-based company, which detergent maker Nirma is in the process of taking over, said its profit rose to 1.19 billion rupees ($14.32 million) in the quarter ended Dec. 31.

Revenue from its API business rose 6.4% to 5.11 billion rupees, making it the biggest contributor to the total revenue. APIs are crucial chemical compounds, used in drugs to help produce the desired health effects.

The company has over 130 APIs in its portfolio across key therapy areas such as cardiovascular, oncology and anti-infectives and operates in the U.S., Europe, Latin America and India.

Total revenue from operations rose 5.9% to 5.73 billion rupees.

"This (growth during the quarter) was fuelled by the robust performance of the US, LATAM, RoW and India (ex-GPL) markets," CEO Yasir Rawjee said, using GPL to refer to parent Glenmark Pharma GLEN.NS.

Last year, Glenmark Pharma agreed to sell a 75% stake in the life sciences unit, spun off in 2019 to focus on the API business, to Nirma to pay off some of its debt of about 46 billion rupees. Post the deal, it would hold only a 7.84% stake in the unit.

Revenue from its contract development and manufacturing (CDMO) unit rose 27.2%, said Glenmark Life Sciences, which counts companies such as Aurobindo Pharma and Torrent Pharmaceuticals TORP.NS among its customers.

"Looking ahead, a strong orderbook for external business, coupled with improved visibility of CDMO business gives me confidence of delivering steady growth in FY24 and in the coming years," Rawjee said.

Shares of the company closed 1% lower ahead of the results on Tuesday.

($1 = 83.1260 Indian rupees)

(Reporting by Rishika Sadam; Editing by Rashmi Aich and Janane Venkatraman)

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** Shares of Glenmark Life Sciences GLEM.NS rise as much as ~3% to 778.90 rupees, their highest since Aug 2021

** The active pharmaceuticals ingredients (API) maker said it signed a deal to manufacture and supply API for a Japanese innovator pharma company

** Estimated commercial value of project at ~$5 mln

** Analysts avg rating on GLEM at "buy"; median PT is 715 rupees - LSEG data

** Stock rose about 56% in 2023

(Reporting by Kashish Tandon in Bengaluru)

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Glenmark Life Sciences Ltd GLEM.NS:

• COMPETITION COMMISSION OF INDIA APPROVES ACQUISITION OF MAJORITY SHAREHOLDING OF GLENMARK LIFE SCIENCES LIMITED BY NIRMA LTD - GOVERNMENT STATEMENT

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Oct 20 (Reuters) - Glenmark Life Sciences Ltd GLEM.NS:

• SEPT-QUARTER REVENUE FROM OPERATIONS 5.95 BILLION RUPEES VERSUS 5.09 BILLION RUPEES

• SEPT-QUARTER PROFIT 1.19 BILLION RUPEES VERSUS 1.07 BILLION RUPEES

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BENGALURU, Oct 6 (Reuters) - Shares of Indian pharmaceutical company Valiant Laboratories VALO.NS rose 15.8% in their trading debut on Friday, valuing the company at 5.28 billion rupees ($63.5 million).

The initial public offering of the Mumbai-based maker of paracetamol tablets was oversubscribed 29.8 times, with retail investors bidding 16 times and high net-worth investors 73.6 times.

The offering had fresh issue of shares worth 1.62 billion rupees ($19.5 million) at the top end of the 133-140 rupees price range.

Valiant is involved in the business of manufacturing active pharmaceutical ingredients (API) for pain killer drug Paracetamol.

Valiant competes with larger rivals such as Granules GRAN.NS and Glenmark Life Sciences GLEM.NS in the API market.

Earlier this week, Indian commercial port operator JSW Infrastructure's JSWN.NS listing saw a bumper opening with shares surging more than 32%.

($1 = 83.2025 Indian rupees)

(Reporting by Sethuraman NR and Kashish Tandon in Bengaluru; Editing by Sohini Goswami)

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Recasts paragraph 1, adds background, details throughout

By Rishika Sadam

Sept 21 (Reuters) - Glenmark Pharma GLEN.NS will sell a 75% stake in its life sciences unit to detergent maker Nirma for 56.52 billion rupees ($679.84 million) and use the proceeds to repay debt, the company said on Thursday.

The sale frees up Glenmark Pharma to focus on its business that sells branded drugs to treat skin and respiratory disorders, and invest in product development, as it eyes market expansion in Latin America, parts of Europe and India.

"Synergies between Glenmark Pharma and GLS business have been rapidly disappearing and companies have had divergent pathways," Glenmark Pharma Chairman Glenn Saldanha said in a press briefing.

The company had gross debt of about 46 billion rupees, Saldanha said.

The stake in Glenmark Life Sciences GLEM.NS was sold at 615 rupees per share, a 1.8% discount to the unit's Thursday close, the company said in a regulatory filing.

Glenmark Life, which was listed in 2021 and competes with drugmakers such as Aurobindo Pharma ARBN.NS and Torrent Pharmaceuticals TORP.NS, makes active pharmaceutical ingredients, or biologically active elements in a drug.

It reported revenue of 21.61 billion rupees for 2023, a 1.8% rise from a year earlier. Profit for the year was up 11.5% at 4.67 billion rupees.

The deal will help privately held Nirma, one of India's well-known brands, build its presence in the healthcare sector. The company acquired sterile contact lens solutions maker Stericon Pharma in April.

Nirma also made an open offer to GLS shareholders to acquire another 17.33% stake in the company at 631 rupees per share. Glenmark Pharma will hold a 7.84% stake in the life sciences entity after the deal.

Kotak Investment Banking was the financial adviser to both Glenmark Pharma and Glenmark Life.

Glenmark Pharma's shares have risen more than 95% so far this year, outperforming a 21.5% rise in the Nifty Pharma index .NIPHARM, while Glenmark Life is up 49%.

($1 = 83.1373 Indian rupees)

(Reporting by Rishika Sadam, Ashna Teresa Britto, Ashish Chandra, Chris Thomas in Bengaluru; Editing by Sohini Goswami and Anil D'Silva)

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BENGALURU, Aug 11 (Reuters) - India's Glenmark Pharmaceuticals Ltd GLEN.NS reported a 22% decline in quarterly profit on Friday, hit by higher expenses and a one-time cost.

Consolidated net profit fell to 1.50 billion rupees ($18.12 million) for the three months ended June 30, from 1.93 billion rupees a year ago, the cetrizine maker said.

Glenmark, which caters to therapeutic areas such as diabetes, cardiovascular and oral contraceptives, reported a 19% rise in total expenses to 30.37 billion rupees. This included a 86.7% spike in finance costs.

Expenses also increased due to a one-time cost of 520.2 million rupees spent during the quarter for repairs at its various manufacturing facilities in India and the United States.

The company's India drugs segment, which accounted for about 31% of total sales, rose by 2.8%, while its North America business, which contributed 23.8%, grew 22%. This helped net sales rise 22.6% to 33.36 billion rupees.

Last quarter, the company's revenue was hurt due to a lower demand in its India business.

Glenmark's rivals Dr Reddy's Laboratories REDY.NS and Cipla CIPL.NS had posted higher profits last month on stronger sales.

Last month, unit Glenmark Lifesciences Ltd GLEM.NS had posted a near 25% rise in first-quarter profit, helped by growth in its active pharma ingredient business.

Shares of the Mumbai-based company settled 1.1% lower on Friday ahead of its results. Glenmark Pharmaceuticals' shares had climbed 45.5% in the April-June quarter, outperforming the Nifty Pharma index .NIPHARM that rose 14.6%.

($1 = 82.7960 Indian rupees)

(Reporting by Biplob Kumar Das in Bengaluru; Editing by Shailesh Kuber)

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Aug 3 (Reuters) - Glenmark Life Sciences Ltd GLEM.NS:

• NEWS REPORT ON CHRYSCAPITAL IN RACE TO BUY CO IS SPECULATIVE IN NATURE

• THERE IS NO INFORMATION CURRENTLY WITH COMPANY THAT IS REPORTABLE

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BENGALURU, July 21 (Reuters) - India's Glenmark Life Sciences GLEM.NS reported a near-25% rise in its first-quarter profit on Friday, led by robust growth of its mainstay active pharmaceutical ingredients (API) business in domestic as well as U.S. and European markets.

The Mumbai-based drug maker said profit stood at 1.35 billion rupees ($16.5 million) for the quarter ended June 30, compared with 1.09 billion rupees a year earlier.

The company, spun off from Glenmark Pharmaceuticals GLEN.NS in 2019 to focus on the API business, said total revenue from operations climbed 18% to 5.87 billion rupees during the quarter, with regulated markets including the U.S., Europe and India contributing 78%.

Margins on earnings before interest, taxes, depreciation and amortization (EBITDA) rose to 33.7% from 31.9% a year earlier.

Revenue from the API business, the company's biggest segment contributing 92% to revenue, grew 13.3% to 5.04 billion rupees.

The drugmaker, whose clients include Aurobindo Pharma ARBN.NS and Torrent Pharmaceuticals TORP.NS, also exports APIs to markets including Japan, Latin America and the Middle East.

APIs are key biologically active elements in a drug that are responsible for delivering desired health effects. The company develops APIs for drugs that help treat conditions such as diabetes as well as cardiovascular and central nervous system diseases.

Shares of Glenmark Life Sciences rose as much as 2.7% after its results before paring gains to trade at 632 rupees per share. They rose nearly 45% during the first-quarter, outperforming the Nifty Pharma index .NIPHARM, which rose nearly 15%.

($1 = 81.9742 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Sonia Cheema)

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** Shares of Indian drugmaker Glenmark Life Sciences Ltd GLEM.NS rise as much as 4.1% at 614.65 rupees, their highest since Jan 17, 2022

** Stock posts steepest intraday gain since June 7

** Local media reported Sekhmet Pharmaventures, Nirma Group are competing to acquire co

** Glenmark did not immediately respond to a Reuters request for comment

** Co shares trading above 50-day and 100-day simple moving averages, indicating bullish trend

** All five analysts eyeing the stock rate it "buy" or higher, median PT 600 rupees

** Glenmark stock up 45%, YTD

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of Glenmark Life Sciences Ltd GLEM.NS rise as much as 3.21% to 535.75 rupees

** Multiple media reports say Ahmedabad-based Nirma group, global private equity firms KKR, Blackstone and BPEA-EQT are interested in buying a stake in the API maker, citing sources

** Thomson Reuters is awaiting response to email queries from GLEM, Nirma group, KKR, Blackstone and BPEA-EQT

** Trading volume is 210,937 shares as of 2:11 p.m. IST, 0.8x the 30-day avg - Refinitiv data

** All five analysts tracking GLEM rate it "buy"; median TP is 600 rupees

(Reporting by Bharath Rajeswaran in Bengaluru)

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BENGALURU, May 16 (Reuters) - Granules India GRAN.NS reported a 7.8% rise in fourth-quarter profit, spurred by strong growth in its business of making active pharmaceutical ingredient (API) for drugs.

The company's consolidated net profit rose to 1.20 billion rupees ($14.7 million) in the quarter ended March 31, from 1.11 billion rupees a year earlier.

Granules's consolidated revenue from operations rose 16% to 11.96 billion rupees, but a 17% jump in its total expenses ate into the profit growth.

The company's revenue from finished dosages, its largest division, rose 16% year-on-year, but that was easily outpaced by its API segment, its second-biggest, where revenue jumped 48%.

Granules reported a 38% jump in sales of paracetamol, which is both an API and a ready-for-consumption drug it sells only in the European Union.

However, the company's biggest market is the United States, from where it gets 31%. The drugs it sells in the country includes skeletal muscle relaxant methocarbamol, whose sales surged 60% in the quarter.

Last month, Glenmark Life Sciences Ltd GLEM.NS posted a 48% rise in quarterly profit, driven by growth in its mainstay API business.

Granules's shares were down 1.6% after the results.

($1 = 81.7800 Indian rupees)

(Reporting by Kashish Tandon; Editing by Sonia Cheema)

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** Shares Glenmark Life Sciences Ltd GLEM.NS surge as much as 9.5% to 525 rupees - their highest since April 25, 2022

** If trend holds, GLEM set for highest weekly rise ever in its fifth straight week of gains

** GLEM's Q4 profit soars 48%, revenue from operations jumps nearly 21%

** Earnings boosted by growth in mainstay business of making active pharmaceutical ingredients (API) for drugs

** Glenmark Pharmaceuticals GLEN.NS, from which GLEM was spun off in 2019, rises 2% to be the top gainer on the Nifty pharma index .NIPHARM, which is up 0.42%

** GLEM most active in more than six months, with the trading volume at over 1 mln shares as of 9:53 a.m. IST, 5.5x the 30-day avg

** Relative strength index of GLEM at 83, suggesting stock may be overbought - Refinitiv data

** Including Friday's gains, co has risen nearly 32% YTD

($1 = 81.7630 Indian rupees)

(Reporting by Rama Venkat in Bengaluru)

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April 27 (Reuters) - Glenmark Life Sciences Ltd GLEM.NS:

• EXPECT GPL BUSINESS TO REMAIN STEADY IN COMING QUARTERS

• EXTERNAL BUSINESS WAS DRIVEN BY STRONG GROWTH IN US, LATAM, AND JAPAN

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BENGALURU, April 11 (Reuters) - India's Glenmark Pharmaceuticals Ltd GLEN.NS is considering selling a majority of the 82% stake it holds in Glenmark Life Sciences Ltd GLEM.NS as it looks to lower its debt load, the Mint business daily reported on Tuesday.

Glenmark Pharma has hired Kotak Mahindra Capital Co Ltd to oversee the sale of its stake in Glenmark Life and has contacted buyout funds to gauge interest, Mint reported, citing two people familiar with the matter.

Glenmark Pharma, Glenmark Life, which makes active pharmaceuticals ingredients (APIs) for drugs, and Kotak did not immediately respond to Reuters' request for comment.

Glenmark Life had a market valuation of 50.13 billion rupees ($611 million) as of the stock's closing price on Monday, which values Glenmark Pharma's stake at 41.1 billion rupees.

Glenmark Pharma's net debt was 26.15 billion rupees as of December 2022, an increase from 21.5 billion rupees in the year-ago period.

It has been aiming to reduce its debt, including through the sale of some dermatology brands to Eris Lifesciences ERIS.NS for 3.40 billion rupees in January.

Glenmark Pharma had first explored selling a stake in its API business in 2019 but ultimately opted to spin off and list Glenmark Life Sciences in 2021.

Besides to lower its debt, the sale is also necessary as Glenmark Pharma has until August 2024 to cut its stake to 75% to meet Indian regulatory norms on promoter holdings, Mint reported.

Glenmark Pharma's shares jumped as much as 1.6% to 495.45 rupees, their highest since Feb. 11, 2022. Glenmark Life's shares were down about 1% at 404 rupees in midday trading.

($1 = 82.0470 Indian rupees)

(Reporting by Navamya Ganesh Acharya; Editing by Sonia Cheema and Savio Dsouza)

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