Erics Lifesciences takes over Biocon Biologics’ nephron, derma units for Rs 366 crore

9 Nov 2023 , 11:30 AM

On Wednesday, Eris Lifesciences announced a formal deal to buy Biocon Biologics’ dermatological and nephrology branded formulations business divisions in India for Rs 366 crore.

Eris stated that the transaction would be partially financed through debt financing.

 The sale includes working capital, and the main leadership and complete field force of this business, which includes around 120 workers from Biocon Biologics’ nephro and derma sections, are scheduled to relocate to Eris following the transaction.

The company expects the transaction to be closed by the end of November 2023.

The company has over 20 mother brands, with a revenue of Rs 90 crore in FY23 and a current revenue run-rate of Rs 100 crore.

Tacrograf and Renodapt are two historical products in organ transplants, and Bionesp and Erypro are two rising brands in chronic kidney disease-induced anaemia. Leading brands such as Psorid, Tbis, Picon, and Calpsor will be added to Eris’ current medical dermatological portfolio.

Eris enters the Nephrology market with the acquisition of two of Biocon’s BFI business units in India.

 Following the transaction, Eris stated that it will become the second largest player in psoriasis, with an 11% market share. Dermatology is on track to become Eris’ third most popular medicine, behind diabetes and cardiovascular disease.

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