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