Eris Lifesciences picks up 51% stake in Swiss Parenterals for ₹637.50 Crore

14 Feb 2024 , 10:26 AM

Eris Lifesciences said on Tuesday that it purchased a 51% share in Swiss Parenterals for ₹637.5 Crore. Swiss Parenterals, headquartered in Ahmedabad, is a global leader in sterile injectables in more than 80 emerging economies throughout Africa, Asia Pacific, and Latin America.

It has two facilities in Gujarat that create a variety of sterile injectable formulations.

In a statement, Amit Bakshi, the Chairman and Managing Director of Eris Lifesciences, mentioned that the purchase of Swiss Parenterals will enhance their presence in India by introducing a Branded Formulations business with a specific focus on Injectables.

Furthermore, the emerging markets expertise of Swiss Parenterals matches Eris’ India concentration extremely well, he stated.

Eris Lifesciences has expanded its Sterile Injectables reach by acquiring a 51% ownership investment in Swiss Parenterals Ltd for ₹637.50 Crore, according to a company release.

Eris reported a 1% increase in consolidated profit after tax (PAT) to ₹101 Crore for the third quarter ended December 2023.

Eris Lifesciences Ltd. is a publicly traded Indian pharmaceutical firm that focuses only on local branded formulations. Eris is ranked #21 in the IPM and has created a leadership position in its core cardio-metabolic brand in just 16 years after its establishment.

Swiss is a worldwide pharmaceutical CRAMS organisation that provides low-cost, high-quality medications to help people live healthier lives. It is one of India’s major research-based global healthcare enterprises, with a focus on pharmaceuticals, nutraceuticals, and medical cosmetics.

At around 10.24 AM, Eris Lifesciences was trading 2.58% lower at ₹900, against the previous close of ₹923.80 on NSE. The counter touched an intraday high and low of ₹939.90 and ₹895, respectively.

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