Genomma Lab Announces Dividend Payment
Genomma Lab Internacional, a leading Mexican manufacturer and distributor of pharmaceutical and personal care products, announced a dividend payment of 200 million pesos (approximately 10.5 million USD) on July 1st.
This translates to a dividend of 0.2 pesos per each representative share of the company’s capital. Given the closing price of 20.6 pesos on the previous trading day, this equates to a yield of roughly 1% per share, considering this single distribution.
The decision to distribute up to 15% of the company’s accumulated profits by December 31, 2024, was made during the ordinary shareholders’ meeting on April 24th. The board of directors was delegated the authority to determine the amount, presentation format, and payment dates.
Genomma Lab reaffirmed its commitment to making quarterly dividend payments to its shareholders following this announcement. As a result, the company’s stock prices rose by 3.3% on the Mexican Stock Exchange.
Novo Nordisk Launches Wegovy in India
Novo Nordisk, a global healthcare company, announced that its weight-loss drug, Wegovy (semaglutide), is now available in India. It serves as a dietary supplement to low-calorie diets and increased physical activity for managing chronic weight issues.
Wegovy is expected to be available in various dosages (0.25 mg, 0.5 mg, and 1 mg) at pharmacies by month-end, priced at approximately 50.71 USD (4,336.25 INR), according to reports citing Novo Nordisk’s India General Manager, Vikrant Shrotriya.
This launch occurred months after Eli Lilly began marketing its competing weight-loss drug, Mounjaro, in India.
Pasa Secures a 2.3 Billion Peso Credit Line
Promotora Ambiental (Pasa), a Mexican company specializing in environmental services, secured a 2.3 billion peso (approximately 120.7 million USD) syndicated loan from a group of six banks for a seven-year term.
This loan, composed of two tranches with varying interest rates (52% fixed and 48% variable), includes a 24-month grace period for capital amortization. This structure will enable Pasa to bolster its liquidity and meet financial obligations.
The syndicate of banks involved in this credit line comprises Scotiabank Inverlat, Banorte, BBVA México, Banamex, Banco Sabadell, and HSBC México.
Tiendanube Invests in Mexican Market
Tiendanube, an Argentine e-commerce startup, plans to invest over 100 million pesos (approximately 5.3 million USD) in the Mexican market over the next two years to launch its business payment platform, ‘Pago Nube’.
The initial rollout of Pago Nube marks Tiendanube’s first step in Mexico, with plans to integrate various credit access options and other financial products in the coming months.
“We are committed to continuing our investment in Mexico, driving technological advancements that foster digitalization and business growth,” said Dan Pinchasi, Head of Pago Nube Mexico at Tiendanube.
Pago Nube offers entrepreneurs multiple payment methods for customers to purchase products using credit cards, MSI, cash, international payments, SPEI, and Oxxo.
Key Questions and Answers
- What is Genomma Lab’s dividend payment announcement? Genomma Lab Internacional declared a 200 million pesos (approximately 10.5 million USD) dividend payment on July 1st, equating to 0.2 pesos per share.
- How does Wegovy benefit Indian consumers? Wegovy, a weight-loss drug by Novo Nordisk, is now available in India as a complement to low-calorie diets and increased physical activity for managing chronic weight issues.
- What is Pasa’s recent financial development? Pasa secured a 2.3 billion peso (approximately 120.7 million USD) syndicated loan from six banks for a seven-year term to refinance its bank debts.
- What is Tiendanube’s plan for the Mexican market? Tiendanube, an Argentine e-commerce startup, plans to invest over 100 million pesos (approximately 5.3 million USD) in Mexico over two years to launch its business payment platform, Pago Nube.
