3 PE firms in talks to buy stake in Glenmark API business

Mumbai: Three private equity (PE) funds are in early talks to acquire a significant stake in Glenmark Pharmaceuticals Ltd’s active pharmaceutical ingredient (API) business, said two people directly aware of the development. Private equity funds Carlyle Group, Advent International and China’s Fosun International are holding separate talks with Glenmark to pick up the API business, which will be demerged into a separate entity, the people cited above said, requesting anonymity.