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Fast-Moving Consumer Goods (FMCG) major Hindustan Unilever, GlaxoSmithKline Asia, and GlaxoSmithKline Consumer have mutually agreed to terminate the distribution agreement of Over-The-Counter (OTC) products.
The OTC products included Crocin, Eno, Iodex, Otrivin, Sensodyne.
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According to Bizom data, the FMCG sales grew by 0.5 per cent month-on-month while it dropped by -3.6 per cent year-on-year in OctoberHUL informed in the stock exchange filing that the termination will be in effect from November 8, 2023. The company in the filing stated the one year notice period for termination shall commence from November 9, 2022 as per the agreement.
“It was agreed that HUL will distribute select OTC and oral care brands of GSKAPL & GSKCPL in India. GSKAPL, GSKCPL and HUL (the companies) have now mutually agreed to discontinue this consignment selling arrangement. The companies will work together to ensure a smooth transition,” said a HUL spokesperson.
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