“Eris Lifesciences Acquires Biocon’s Nephrology and Dermatology Brands for Rs 366 Crore”


Indian pharmaceutical company Eris Lifesciences is set to acquire Biocon’s Branded Formulations’ India (BFI) business units in nephrology and dermatology for Rs 366 crore. The deal marks Eris’s entry into nephrology and enhances its position in dermatology, providing strategic growth opportunities.

Eris Acquires Biocon's Nephrology and Dermatology Brands for Rs 366 Crore

Eris Lifesciences Ltd, a prominent player in the Indian pharmaceutical industry, has announced its agreement to acquire Biocon Biologics Ltd’s Branded Formulations’ India (BFI) business units specializing in nephrology and dermatology. The deal, valued at Rs 366 crore, includes the transfer of working capital as part of the transaction.

This strategic acquisition will be partly financed through debt, with the full financial closure of the deal anticipated by the end of 2023. The business under acquisition comprises more than 20 mother brands with a FY23 revenue of Rs 90 crore and a current revenue run-rate of Rs 100 crore. Additionally, Eris will welcome the key leadership and the entire field force of this business, totaling over 120 personnel, into its fold post-acquisition.

The acquisition of Biocon’s BFI business units represents a significant milestone for Eris, marking its entry into the field of nephrology. This move aligns with Eris’s primary focus on the cardio-metabolic sector and enables the company to extend its healthcare services from diabetes/hypertension management to addressing Chronic Kidney Disease (CKD).

Amit Bakshi, Chairman & Managing Director of Eris Lifesciences, expressed confidence in the value this acquisition will bring to shareholders and its alignment with the company’s strategic objectives and capital allocation framework. The acquisition includes well-established brands such as Psorid, Tbis, Picon, and Calpsor, which will complement Eris’s existing Medical Dermatology portfolio. It will also strengthen Eris’s nephrology franchise, with brands like Tacrograf and Renodapt in Organ Transplants and emerging brands like Bionesp and Erypro in CKD-induced anemia.

The acquisition also consolidates Eris’s position in the dermatology segment, making it the second-largest player in psoriasis with an 11 percent market share. Following the deal, dermatology is poised to become Eris’s third-largest therapy area after diabetes and cardiovascular diseases.

Shreehas Tambe, CEO & Managing Director of Biocon Biologics Limited, explained that this divestment of non-core assets allows Biocon Biologics to unlock value within its Branded Formulations portfolio, enabling a sharper focus on core therapy areas such as Diabetes, Oncology, and Immunology.

The acquisition of Biocon’s BFI business units opens new growth avenues for Eris Lifesciences, positioning it for strategic expansion in nephrology and strengthening its presence in dermatology.

Sources By Agencies

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