Glenmark Pharmaceuticals Ltd. will divest select brands and sub-brands (Tail brands) from its dermatology segment, for India and Nepal territories, to Eris Oaknet Healthcare Private Limited for Rs. 340.48 crore. 

Glenmark Pharmaceuticals has entered into an agreement with Eris Oaknet Healthcare Private Limited, a wholly owned subsidiary of Eris Lifesciences Limited to divest select brands and sub-brands (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 cardio- metabolic, respiratory, dermatology, and oncology.