Eris buying a part of dermatology portfolio of Glenmark

Eris Lifesciences is acquiring 9 dermatology brands from Glenmark Pharma.

  • The brands are – Onabet, Halovate, Sorvate, Luligee, Demelan, Aceret, Dosetil, Revize, and Powercort, and their sub-brands.
  • The acquisition is for the India and Nepal Territories
  • Consideration for the transaction is Rs 340 crore payable in cash.
  • Turnover of the acquired brands:
    • FY 20 – Rs 91.1 cr
    • FY 21 – Rs 80.6 cr
    • FY 22 – Rs 87.3 cr

Rationale for the transaction –

For Eris – to improve and expand in the dermatology

  • Improves marketshare in the covered market from 2.8%to 4.6%
  • Improves ranking in the covered market from #12 to #6
  • Derma therapy’s contribution to total revenues will increase from 7.6%to 12.7%

For Glenmark – in line with the strategy to focus on the leading brands in the dermatology segment.

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