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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The Hyderabad-based contract manufacturer has seen its big European bet sour. Can its new CEO move mountains?
Gland Pharma is hurting. A European acquisition, made a little over a year ago, has ended up becoming a millstone around its neck.
The Hyderabad-based injectables maker’s management, eager to put a positive spin on the over Rs 1,000 crore acquisition, continues to insist that Cenexi, the French contract drug manufacturer, is a good addition and profits are just around the corner. “At Cenexi, a beta-level breakeven will happen in Q4 [of 2024-25],” said Ravi Mitra, chief financial officer of Gland Pharma, in an investor call following the release of the July-September quarter results.
But then, a similar optimistic prognosis …
Quick-commerce apps are likely to run into regulations and poor order volumes as they try to grow this business.
While earlier attempts were unsuccessful, with Glenmark running into huge losses, there seems to be growing consensus that the drugmaker’s R&D strategy makes it a different company. Perhaps even a valuable one.
The food and grocery delivery company’s idea of providing prescription drugs in 10 minutes is facing resistance from traditional pharma players.
