Glenmark Pharmaceuticals has entered into an agreement with Eris Oaknet Healthcare, a wholly owned subsidiary of Eris Lifesciences to divest the Tail Brands from its dermatology segment, for India and Nepal territories, for a consideration amount of Rs 340.48 crore. The divested Tail Brands include Onabet, Halovate, Sorvate, Luligee, Demelan, Aceret, Dosetil, Revize, and Powercort, and their sub-brands.
According to IQVIA sales data (SSA MAT Dec. 2022) for the 12-month period ending December 2022, Glenmark is ranked second in the dermatology therapy area in India. This divestment is in line with Glenmark’s strategy of focusing on its leading brands in the dermatology segment. Going forward, the company will continue to further consolidate its position in its core therapeutic areas of cardiometabolic, respiratory, dermatology, and oncology.
Glenmark Pharmaceuticals is a global research-led pharmaceutical company with presence across Generics, Specialty and OTC business with operations in over 50 countries.
