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.