Glenmark Pharmaceuticals Limited

rs,

tember 21, 2023 To, Dy. General Manager Department of Corporate Services, BSE Ltd., P. J. Towers, Dalal Street, Fort, Mumbai – 400 001. To, The Manager – Listing, The National Stock Exchange of

75%

oposed Divestment of Majority Stake in Glenmark Life Sciences • Glenmark Pharma agrees to divest 75% stake in its subsidiary Glenmark Life Sciences to Nirma Limited, at a price of INR 615/- per shar

INR 615

rees to divest 75% stake in its subsidiary Glenmark Life Sciences to Nirma Limited, at a price of INR 615/- per share implying an equity valuation of INR 75,354 mn. • Glenmark Pharma will continue to own

INR 75,354

Life Sciences to Nirma Limited, at a price of INR 615/- per share implying an equity valuation of INR 75,354 mn. • Glenmark Pharma will continue to own 7.84% in Glenmark Life Sciences. • Pursuant to the tra

7.84%

- per share implying an equity valuation of INR 75,354 mn. • Glenmark Pharma will continue to own 7.84% in Glenmark Life Sciences. • Pursuant to the transaction, Nirma Limited will make a mandatory open

INR 56,515

k Life Sciences Limited (GLS), at a price of INR 615/- per share for an aggregate consideration of INR 56,515 mn, subject to closing adjustments. Glenmark Pharma will own 7.84% in GLS after the divestment. The

2.9 million

second Indian Pharmaceuticals company to achieve this approval. The organization has impacted over 2.9 million lives over the last decade through its CSR interventions. For more information, visit www.glenmark

INR 615

ma”) to divest 75%1 stake in its subsidiary, Glenmark Life Sciences Limited (“GLS”), at a price of INR 615/‐ per share for an aggregate consideration of INR 56,515 Mn, implying an equity valuation of INR 7

INR 56,515

Life Sciences Limited (“GLS”), at a price of INR 615/‐ per share for an aggregate consideration of INR 56,515 Mn, implying an equity valuation of INR 75,354 Mn + Glenmark Pharmaceuticals Ltd. will own 7.84%1

INR 75,354

R 615/‐ per share for an aggregate consideration of INR 56,515 Mn, implying an equity valuation of INR 75,354 Mn + Glenmark Pharmaceuticals Ltd. will own 7.84%1 in Glenmark Life Sciences Ltd. after the divestm

8%

ntribution of RYALTRIS® plus other branded / differentiated products • Lower R&D expenditure to 7‐8% of consolidated revenue • Higher operating leverage through greater scale in Europe and Latin