Sun Pharma and Glenmark to raise funds
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Drugmakers Sun Pharmaceutical Industries and Glenmark Pharmaceuticals have recently announced plans to raise funds.
Glenmark Pharmaceuticals is focused towards raising funds for expansion plans and setting up new manufacturing units by raising funds amounting to Rs 3,300 crore.
As implied by a report in the business line, the company aims to redirects these funds for further growth in business and marketing network (both in domestic and overseas market), strengthen its manufacturing infrastructure and R&D, as well as introduce new products across various markets.
On the other hand, Sun Pharma through its subsidiary Sun Pharma Laboratories is already reported to have raised 1000 crore. The company is likely to direct this fund to do internal restructuring, as further implied in a report by business line.
The issue came forth in recent reports in the media. As confirmed by TOI, The US Food and Drug Administration (FDA) warning letter issued to Sun Pharma highlights serious concerns of sterility assurance in medicines, possibility of microbial contamination and ceiling leaks, as part of the manufacturing lapses at its Halol facility.
Glenmark Pharmaceuticals is focused towards raising funds for expansion plans and setting up new manufacturing units by raising funds amounting to Rs 3,300 crore.
As implied by a report in the business line, the company aims to redirects these funds for further growth in business and marketing network (both in domestic and overseas market), strengthen its manufacturing infrastructure and R&D, as well as introduce new products across various markets.
On the other hand, Sun Pharma through its subsidiary Sun Pharma Laboratories is already reported to have raised 1000 crore. The company is likely to direct this fund to do internal restructuring, as further implied in a report by business line.
The issue came forth in recent reports in the media. As confirmed by TOI, The US Food and Drug Administration (FDA) warning letter issued to Sun Pharma highlights serious concerns of sterility assurance in medicines, possibility of microbial contamination and ceiling leaks, as part of the manufacturing lapses at its Halol facility.
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