Eris Lifesciences Limited entered into a definitive agreement to acquire Dermatology and Nephrology branded formulations business units of Biocon Biologics for INR 3.7 billion.

Eris Lifesciences Limited (NSEI:ERIS) entered into a definitive agreement to acquire Dermatology and Nephrology branded formulations business units of Biocon Biologics for INR 3.7 billion on November 08, 2023. Post deal close, over 120 employees of the two business units are expected to transition to Eris, ensuring continuity for both employees and patients. The Dermatology and Nephrology branded formulations business units reported revenues of INR 900 million and net worth of INR 250 million in FY 2022-23.

The deal is subject to customary closing conditions and is expected to close by the end of Nov 2023.