With A Likely Multi-Billion Dollar Zetia® Antitrust Trial Looming, Glenmark Said To Consider (Again) Selling Its API Businesses...

We are now less than two weeks away (with likely a week's time, in court after official opening day -- to get all the way to the opening of the first bits of actual evidence -- and beyond just preliminaries and opening arguments) from what will almost certainly be a multi-billion dollar civil antitrust class action trial against Glenmark, and Merck -- in what is alleged as a "pay to delay" scheme.

In this decade long action, Glenmark was an API supplier, and a potential generic market entrant, that agreed to delay its US entry with a ezetimibe agent -- in return for hundreds of millions, from Merck (and earlier, legacy Schering-Plough).

This morning we read that Glenmark may exit its API business in total, to pay down debt coming due, in India. Here is Fierce Pharma's latest -- ever on the case -- on it all:

. . .Facing a debt problem in 2019, Glenmark considered selling off its active pharmaceutical ingredient (API) business before opting instead for a spinoff.

Four years later, with the same debt issues, Glenmark is taking another look at selling its stake in the API business, called Glenmark Life Sciences. The Indian pharma company has contacted potential buyers and has hired Kotak Mahindra Capital to oversee the potential sale, sources told news outlet Mint.

Glenmark is looking to sell off a majority stake in the API subsidiary. The company owns 82% of the business. The company was already required to sell a part of Glenmark Life Sciences by August of 2024, according to Mint, to reach a 75% ownership threshold required by Indian regulators. . . .

Now you know. . . time for another warm sunny bike ride, by the clear lake waters. . . smile.

नमस्ते