Glenmark to merge subsidiary

MAY 15: The board of Glenmark Pharmaceuticals Ltd in its meeting today decided to merge its 100 per cent export subsidiary unit into the parent company in light of the changes in government policy towards export oriented units.

Buoyed by the successful public issue, the reserves and surplus of the company stood at Rs 96.47 crore on an equity base of Rs 10 crore as on March 2000. The company has four brands in the org top 300 list namely Ascoril, Candid-B, Altacef and Candid which captured creditable market shares. The compay continues to be amongst the market leaders in the drmatological segement and recorded the highest growth of 26.20 per cent in this segment.