M&A

M&A

Eris Lifesciences to buy dermatology brands from Glenmark Pharma for Rs.340-Cr

BSE Disclosure  

Eris Lifesciences Ltd is to acquire a portfolio of dermatology brands from fellow publicly-listed Glenmark Pharmaceuticals Ltd for INR 340 crore to deepen its presence in the anti-fungal and anti-psoriasis segments. The company is acquiring nine trademarks along with their applicable line extensions including Onabet, Halobate, Sorvate, and Demelan for India and Nepal. The deal for the portfolio, that had reported a revenue of INR 87.30 crore for FY22, will be financed through borrowings.