Nirma acquired a majority stake in Glenmark Life Sciences in March 2024, becoming the new promoter of the company
Indian pharmaceutical company Glenmark Life Sciences (GLS) has rebranded as Alivus Life Sciences, following its acquisition by consumer goods holding conglomerate Nirma Limited.
It is a leading developer and manufacturer of select, high-value, non-commoditized, active pharmaceutical ingredients (APIs) in chronic therapeutic areas such as cardiovascular disease, central nervous system disease, pain management and diabetes.
In March 2024, Nirma Limited, headquartered in Ahmedabad, India, acquired a 75 per cent majority stake in Glenmark Life Sciences, becoming the new promoter of the company.
The pharmaceutical company has described the rebranding to Alivus Life Sciences as “an exciting new chapter” in its journey.
In a press release, the company explained: “The change is reflective of the company’s evolving vision aimed at further strengthening its global presence and a commitment to providing innovative solutions in the API and contract development and manufacturing organization (CDMO) space.
“The new identity, Alivus Life Sciences, represents vitality and growth with a renewed focus. It embodies the optimism and transformation the company is embracing as it enters the next phase of its journey.”
Along with the name change, the company’s official website is now alivus.com.
For the first half of FY25, Glenmark Life Sciences reported revenue from operations of Rs. 10,955 million (around £120 million), a 6.7 per cent year-on-year decrease. In Q2FY25, revenue from operations was reported at Rs. 5,069 million (approximately £53.22 million)
Dr. Yasir Rawjee, MD and CEO of Glenmark Life Sciences attributed the revenue decline to the temporary closure of the Ankleshwar facility, which delayed order fulfillment across geographies.
However, the loss of production has substantially been recovered and the company expects the second half of FY25 to outperform their earlier estimates.
Dr. Rawjee also highlighted that the company's product mix has led to improved gross margins of over 55 per cent.
“Looking ahead, we expect a strong second half of the fiscal year, supported by our solid order book. While overall growth for FY25 is projected to be in high single digits, we are confident in maintaining stable margins throughout the year,” he added.
Alivus Life Sciences provides CDMO services to a range of multinational and specialty pharmaceutical companies and has a portfolio of 161 molecules. The company supplies its products across India, Europe, North America, Latin America, Japan, and the rest of the world.
The company operates four manufacturing facilities, which are regularly inspected by global regulators such as USFDA, PMDA (Japan) and EDQM (Europe).
Sukhi Basra