Eris to buy Biocon arm’s branded drugs for 1,242 crore


New Delhi: biocon Selling branded formulations of its subsidiary Biocon Biologics To Aris Lifesciences For Rs 1,242 crore. The deal will mark the entry of Eris into the over Rs 30,000 crore injectables market in India, and become a leading player in the insulin segment with the acquisition of two key brands – bus people And Insugen.
This will also mark Eris' entry into oncology and critical care, which is part of its portfolio of about Rs 350 crore, said Krishnakumar Vaidyanathan, executive director and chief operating officer, Eris Lifesciences.
Under this deal, Eris has also signed a 10-year supply agreement with Biocon Biologics. Eris will continue to manufacture and supply the Biocon product line for commercialization in India. Biocon acquisition insulin brandThe value, valued at around Rs 200 crore, will add Rs 50 crore to Eris' existing insulin portfolio, Vaidyanathan said. The acquisition also provides immediate synergy with the recently acquired Swiss Parenterals business, a company statement said.

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