Amwill Health Care is a derma-cosmetic development company, associated with contract manufacturers, distributor and third party product development agencies, which has enabled us in developing capabilities, in manufacturing, packaging and distribution. The core focus of their Company is on development of problem solving dermatological, cosmeceutical and aesthetical products, and therefore to direct all their efforts towards product formulation and development,they have outsourced key functions such as manufacturing, prototype development and distribution to third parties, for effective management and execution. In line of the aforementioned business strategy, they have presently created a business presence in Karnataka, Andhra Pradesh and Telangana, wherein they focus on deepening their presence in the regions theyoperate in, before venturing into new markets, thereby enabling us to establish a customer base in such states. This enables the target customers to identify with their product portfolio and aids their understanding of the market segment and the customer demand preference. The product portfolio of their Company is divided into two categories, namely, (i) development and contract manufacturing of generic dermatological solutions; and (ii) developing and formulating solutions to specific dermatological problem. Majority of the products marketed by us, were developed by their Promoter and Managing Director, Anand Gandhi, in the capacity of a sole proprietor of M/s. Amwill Healthcare. In order to formalise the business of M/s. Amwill Healthcare and to widen the reach of its products, their Promoters formed their Company and executed a Memorandum of Understanding dated March 31, 2020 with M/s. Amwill Healthcare and their Company (“Asset Transfer MoU”), wherein intellectual property rights, on the products developed by their Promoters under M/s. Amwill Healthcare were transferred to their Company, for a consideration of ₹ 91.06 lakhs. Since incorporation of their Company, has developed seven new products, namely proputor tabs, XL hydra cream, ozederm cream, PD-pill 10 tablets, XL aqua moisturising lotion, ultra kromaglo effervescent tablets and depimed ultra cream. Out of these products, their Company did not receive a positive response for PD -pill 10 tablets, proputor tabs and ozederm cream and therefore has discontinued former two products.