Eris to acquire nephro, derma units of Biocon Biologics

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₹366 crore. The acquired units, encompassing more than 20 major brands, reported a turnover of ₹90 crore in fiscal year 2023, with a current revenue run-rate of ₹100 crore. The deal, which includes the transfer of working capital, will see over 120 personnel, including senior leaders and field staff, transition to Eris Lifesciences.

The transaction is likely to achieve financial closure by the end of 2023. “We have successfully demonstrated our ability to turn around and create value in acquired businesses. The acquisition of Biocon Biologics’ nephrology and dermatology branded formulations businesses in India is in line with our strategic goals as well as our capital allocation framework, said Amit Bakshi, chairman and managing director of Eris Lifesciences.

For Biocon Biologics, this will be a non-core divestiture, the firm said. “This divesture of non-core assets allows Biocon Biologics to unlock value within our branded formulations portfolio in India and sharpen focus on our core therapy areas like diabetes, oncology and immunology," Shreehas Tambe, CEO & managing director, Biocon Biologics, said. With the acquisition of two of Biocon’s BFI business units in India, Eris will enter the nephrology segment.

This transaction adds to Eris’ flagship cardiometabolic business and post the deal, Eris will offer end-to-end care to patients starting with diabetes/ hypertension and all through to chronic kidney disease (CKD), the company said. Eris will get brands such as Tacrograf and Renodapt in organ transplants and emerging brands like Bionesp and Erypro in CKD-induced anaemia for its nephrology franchise. The deal will also help Eris consolidate its position in dermatology, the company said.