India's Glenmark spinning out innovative assets into U.S. unit

Glenmark Pharmaceuticals Ltd. (NSE:GLENMARK; BSE:532296) will spin out its innovation business to help accelerate its pipeline towards commercialization.

The spinout will be a wholly owned subsidiary based in the U.S and have a new CEO and an independent board. It will house eight assets from its India-based parent -- three in preclinical testing and five in the clinic -- across oncology, immunology and pain management. ...