Glenmark Pharmaceuticals to sell certain dermatology brands to Eris Lifesciences

Glenmark Pharmaceuticals has agreed to sell certain brands from its dermatology segment in India and Nepal to Eris Oaknet Healthcare, a fully-owned subsidiary of Eris Lifesciences.

The consideration for the deal is INR 340.48 crores, stated the Indian pharma company.

The brands being divested are Onabet, Sorvate, Halovate, Demelan, Luligee, Aceret, Revize, Dosetil, and Powercort, and their sub-brands.

According to Glenmark Pharmaceuticals, the sale aligns with its strategy of concentrating on its major brands in the dermatology segment.

Glenmark Pharmaceuticals stated: “Going forward, the company will continue to further consolidate its position in its core therapeutic areas of cardiometabolic, respiratory, dermatology, and oncology.”