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Veritas, DSK act on $90m Glenmark orthopaedic, pain biz to True North

“Private equity firm True North (formerly known as India Value Fund Advisors) has inked a deal to buy Glenmark Pharmaceuticals Ltd’s orthopaedic and pain management business in India and Nepal, valuing the business at Rs 635 crore ($90 million), the drugmaker said. Glenmark did not disclose if it would hold any stake in the business, which would be transferred to a new entity to be incorporated by True North. This new entity is likely to be named as Integrace Pvt Ltd and will market the product portfolio in India and Nepal,” reported VCCircle.

Veritas Legal advised Glenmark Pharmaceuticals Limited led by a team of partner Abhijit Joshi, partner Tushar Raut, senior associate Somrita Chatterji and associate Anish Patel.

Also advising was DSK Legal.


Deal value: Rs 63.5 crore

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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