Glenmark collaborates with True North for its orthopedic and pain management business in India

Glenmark Pharmaceuticals has entered into a collaboration with leading, home-grown private equity firm True North for its orthopedic and pain management business for the markets of India and Nepal. Under this collaboration, Glenmark’s orthopedic and pain management business, valued at `635 crore, will be transferred to a new entity to-be incorporated by True North. The new entity would be named as Integrace Private Limited or any such other name including the name Integrace as may be approved by the Central Registration Center. Integrace will market the product portfolio in India and Nepal. The transaction is expected to be completed in 2-3 months. Sujesh Vasudevan, President India Formulations, Middle East, and Africa at Glenmark will join the board of directors of Integrace. Glenmark’s orthopedic and pain management business accounted for 6 percent of the company’s India sales and 1.7 percent of the total consolidated revenue in FY 2017-18. The key brands are leaders in their respective therapy areas.