Eris Lifesciences acquires Biocon Biologics' nephro, derma units for Rs 366 crore
Eris Lifesciences on Wednesday said it has entered into a definitive agreement to acquire Biocon Biologics' dermatology and nephrology branded formulations business units in India for Rs 366 crore.
Eris said the acquisition will be funded partly through debt financing.
The deal is inclusive of working capital and the key leadership and entire field force of this business, consisting of over 120 personnel of Biocon Biologics' nephro and derma units are expected to move to Eris post deal.
The transaction is expected to close by the end of November 2023.
The business includes over 20 mother brands with FY23 Revenue of Rs 90 cr. and current revenue run-rate of Rs 100 crore.
Some of the legacy brands include Tacrograf and Renodapt in organ transplants and emerging brands like Bionesp and Erypro in chronic kidney disease — induced anaemia.
Leading brands like Psorid, Tbis, Picon and Calpsor will complement the existing medical dermatology portfolio of Eris.
Eris has historically leveraged acquisitions to enter new therapies; it entered neuropsychiatry in 2017 through the acquisition of Strides Shasun’s domestic business and entered dermatology in 2022 through the acquisition of Oaknet Healthcare, followed by brand portfolios from Glenmark and Dr. Reddy’s in early 2023.
The acquisition of two of Biocon’s BFI business units in India marks the entry of Eris into Nephrology.
Post deal, Eris said it would become the second largest player in psoriasis with a 11% market share.
