THE WHAT? Glenmark Pharmaceuticals has announced that it has entered into an agreement to sell its VWash brand to Hindustan Unilever. Under the terms of the deal, HUL will pay an upfront sum as well as deferred consideration based on sales for three years, although the exact sum was not disclosed.
THE DETAILS “The decision to divest VWash brand is driven by the strategy to focus on our core therapy areas. While Glenmark has been able to establish VWash as a category leader, we are confident that HUL’s strong market presence and large distribution network will accelerate future growth of VWash.” said Sujesh Vasudevan, President India Formulations, Middle East and Africa at Glenmar
THE WHY? Glenmark intends to further consolidate its position in the core therapy areas of respiratory, dermatology and oncology globally. Glenmark’s OTC business will focus on its other leading brands like Candid Powder, Scalpe and introduce new Rx to OTC switches.