Eris acquires Biocon’s branded formulations

New Delhi: Eris Lifesciences on Thursday said it has acquired commercial rights of Biocon Biologics’ India branded formulation business for Rs1,242 crore. The acquisition brings two major insulin brands – Basalog and Insugen – into the company’s fold, along with metabolic, oncology, and critical care products, the drug firm said in a statement. With the deal, Eris’ diabetes care franchise is expected to touch the Rs1,000 crore revenue mark, it added. The drug firm said it has signed a 10-year supply agreement with Biocon Biologics. As per the agreement, the Biocon product range will continue to be manufactured and supplied to Eris for commercialisation in India, it added.