According to a regulatory filing, pharma giant Glenmark has decided to sell tail brands of its dermatology segment, for India and Nepal territories, for a consideration amount of INR 340.48 Cr.
The divested tail brands include Onabet, Halovate, Sorvate, Luligee, Demelan, Aceret, Dosetil, Revize, and Powercort, and their sub-brands. They have been sold to Eris Oaknet Healthcare Private Limited, a wholly owned subsidiary of ERIS Lifesciences.
According to IQVIA sales data 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.
