Healthcare Buzz
Glenmark collaborates with True North for its orthopedic and pain management business in India
Glenmark Pharmaceuticals Ltd has entered into a collaboration with leading, home-grown private equity firm True North for its orthopedic and pain management business for markets in 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). 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.
“With a view to provide additional focus and resources to the orthopedic franchise, we are collaborating with True North and firmly believe that this alliance will help unleash the full potential of this business.”
Sujesh Vasudevan
President India Formulations, Middle East, and Africa,
Glenmark