OrbiMed Sells Stake in Marksans Pharma for Rs 257 Crore

US-based OrbiMed sold a 2.27% stake in Marksans Pharma for Rs 257 crore. The sale reduced OrbiMed's holding to 8.61%. Buyers included Citigroup Global Markets Singapore and Societe Generale. Marksans Pharma shares rose 5.62% to Rs 264 on the NSE.

US-based investment firm OrbiMed has offloaded a 2.27% stake in Marksans Pharma, securing Rs 257 crore through an open market transaction on Wednesday.

Data from the National Stock Exchange (NSE) reveals that OrbiMed's Mauritius arm sold over 1.02 crore shares, reducing its stake from 10.88% to 8.61%.

Major buyers included Citigroup Global Markets Singapore and Societe Generale. Following the sale, Marksans Pharma shares increased by 5.62%, settling at Rs 264 each on the NSE.

(With inputs from agencies.)