India's Glenmark Life at 2-1/2-yr high after signing manufacturing deal

Alivus Life Sciences

19/01/2024 05:53

** 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)
 ((kashish.tandon@thomsonreuters.com))