Eris to acquire branded formulations of Biocon subsidiary for Rs 1242 crore


Biocon Biologics is selling its branded formulations business to a Mumbai-based company Aris Lifesciences For Rs 1242 crore.
With this deal, Eris will mark its entry into Rs 30,000+ crore injection market in India, and acquired two leading insulin brands – Basalog and Insugen.
The acquisition will also mark Eris' entry into oncology and critical care, a company statement said.
Under this deal he has also signed a 10-year contract. supply contract with Biocon subsidiary, Eris will continue to manufacture and supply the Biocon product line for commercialization in India.
It said the acquisition also provides immediate synergy with the recently acquired Swiss Parenterals business.
The Biocon product line can be expanded rapidly by leveraging Swiss' product portfolio, which includes 240+ unique molecules. The combination of both deals also provides opportunities for margin expansion through insourcing/technology transfer of manufacturing to Swiss facilities.

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