Glen­mark inks pact with True North for pain man­age­ment

BioSpectrum (Asia) - - COMPANY NEWS -

Glen­mark has formed a joint ven­ture with pri­vate eq­uity firm True North for its pain man­age­ment and or­tho­pe­dic prod­ucts busi­ness in In­dia and Nepal. Un­der this col­lab­o­ra­tion, Glen­mark’s or­thopaedic and pain man­age­ment busi­ness, val­ued at Rs 635 crore, will be trans­ferred to a new en­tity to-be in­cor­po­rated by True North. The new en­tity would be named as ‘In­te­grace Pri­vate Ltd’ and will mar­ket the prod­uct port­fo­lio in In­dia and Nepal. The trans­ac­tion is ex­pected to be com­pleted in 2-3 months. As part of the deal, Su­jesh Va­sude­van, Pres­i­dent In­dia For­mu­la­tions, Mid­dle East and Africa at Glen­mark will join the board of In­te­grace. Glen­mark’s or­thopaedic and pain man­age­ment busi­ness in In­dia, con­sist­ing of brands such as Esoz, Bon K2, Col­las­mart, and Li­zolid, clocked rev­enue of Rs 155.8 crore in 2017-18.

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