Eris Lifesciences Scouting for Acquisitions to Diversify Biz
Through acquisition of Strides domestic formulations portfolio in 2017, Eris Lifesciences got a toehold in the neurology and psychiatry segments, followed by another acquisition in 2019 of anti-diabetes brand Zomelis, generic version of Vildagliptin, from Novartis, which became a ₹100 crore brand for the company. Earlier this year, the company bought Oaknet for ₹650 crore. Eris Lifesciences ended 2021-22 with revenues of ₹1,347 crore, with 53% contributed by cardiology and anti-diabetes medications.