Biznextindia : Biocon Biologics Limited, a subsidiary of Biocon Limited has divested the businesses in relation to its non-core branded formulations in India, comprising, inter alia, of generic dermatology and nephrology small molecule formulations to Eris Lifesciences Limited on a ‘slump sale’ basis for Rs.366 crore.
The revenue of the businesses for FY 2022-23 was Rs. 90 Crores i.e, 0.8% of the Consolidated Revenue of Biocon Limited for FY 2022- 23. Net Worth of the businesses was Rs. 25 Crores as at March 31, 2023 i.e, 0.1% of the Consolidated Net worth of Biocon Limited as at March 31, 2023.
Eris Lifesciences Limited is a publicly listed Indian pharma company with a pure-play domestic branded formulations business model. Established in 2007, Eris ranks 21st in the Indian Pharmaceutical Market (‘IPM’) and is by far the youngest company in the IPM Top-25. Since inception, Eris has been focused on chronic and sub chronic lifestyle related therapies and on high-end super-specialist doctors and consulting physicians.