Industry Consolidation: Eris Lifesciences Strengthens Portfolio with Acquisition of Biocon Biologics' Domestic Business

ERIS Lifesciences . has announced its acquisition of Biocon Biologics ’ India-branded formulation business for ?1,242 crores. This deal includes the acquisition of two leading insulin brands, Basalog & Insugen, each holding a market share of over 10% in their respective segments. The acquisition is expected to significantly strengthen Eris Lifesciences' Diabetes care franchise, driving its revenue close to ?1,000 crores and positioning it as one of the largest diabetes portfolios in India.

Additionally, this acquisition marks Eris' entry into the Oncology & Critical Care segments. As part of the agreement, Eris has secured a 10-year supply agreement with Biocon Biologics Ltd., ensuring the continuous manufacture and supply of Biocon's product range for commercialization in India. This strategic move is in alignment with Eris' recent acquisition of Swiss Parenterals, providing immediate synergies and growth opportunities. The integration of Biocon's product range with Swiss Parenterals' portfolio, which includes over 240 unique molecules, presents avenues for margin expansion through insourcing & technology transfer of manufacturing to Swiss facilities.

Amit Bakshi, Chairman & Managing Director of Eris Lifesciences Ltd., expressed confidence in the potential of this acquisition. He stated that the acquisition of Swiss Parenterals will propel the company into the ?30,000 crore India Branded Injectables market. Bakshi highlighted the company's strategic growth initiatives over the past two years and outlined a target revenue of ?5,000 crores over the next 3-4 years, leveraging the synergies and opportunities presented by these acquisitions.