Publicly listed, Ahmedabad-based Eris Lifesciences is to acquire the nephrology and dermatology business units from Biocon Biologics for INR 366 crore. The deal, which marks Eris' entry into nephrology. And covers (besides working capital) more than 20 brands that earned INR 90 crore in revenue in FY23 and have a run rate of around INR 100 crore. The transaction value represents an accretive multiple of 4x on revenues and 22x on Ebitda.
Eris entered the therapy segment of neuropsychiatry in 2017 by acquiring Strides Shasun's domestic business. It entered dermatology in 2022 by acquiring Oaknet Healthcare, followed by brand portfolios from Glenmark and Dr Reddy's Laboratories (DRL) in early 2023.
Biocon Biologics is divesting non-core assets to focus on its key therapy areas, diabetes, oncology and immunology.
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