ERIS Lifesciences Ltd

Eris Lifesciences Limited was incorporated on January 25, 2007. Subsequently, the name of the company was changed to 'Eris Lifesciences Private Limited' on February 9, 2007. Further, the Company was converted into a Public Limited cCompany and the name was changed to 'Eris Lifesciences Limited' on February 2, 2017. The Company has a manufacturing plant in Guwahati, Assam and is presently engaged in manufacturing and marketing of pharmaceutical products. It has presence in high growth chronic, sub chronic and acute therapeutic areas that require high intervention of specialist and super specialist doctors. Apart from this, it has a portfolio of 112 Mother Brands across therapy areas. The company develops, manufactures and commercializes branded pharmaceutical products in selected therapeutic areas within the chronic and acute categories of the Indian Pharmaceutical Market (IPM), such as: cardiovascular; anti-diabetics; vitamins; gastroenterology; and anti-infective. Its focus has been on developing products in the chronic and acute categories which are linked to lifestyle related disorders. Its operations are supported by a distribution network of 22 Sales depots, 2,059 Stockists and more than 5,00,000 retail chemists. In 2007, the company launched 'Eris' division focused on cardiology and diabetes segment. In 2008, the company launched 'Nikkos' division focused on gastroenterology and orthopedics segment. In 2009, the company launched 'Adura' division focused on cardiology and diabetes segment. In 2011, the company launched 'Montana' division focused on gynecology and pediatrics segment. In 2012, the company launched 'Inspira' division focused on cardiology segment. In 2014, the company launched 'Victus' division focused on anti-diabetes segment. During the year, the company set up manufacturing facility at Assam. In 2015, the company launched 'Eris 2' division focused on pain management segment. In 2016, the company acquired 40 registered and unregistered trademarks from Amay Pharmaceuticals Private Limited (now, Aprica Pharmaceuticals Private Limited). During the year, the company acquired 100% of the outstanding equity shares of Aprica Healthcare Private Limited and 75.48% of the outstanding equity shares of Kinedex Healthcare Private Limited. In 2017, the company acquired the trademarks UNION', REUNION' and BON UNION'. Eris Lifesciences made its debut on the secondary equity market on 29 June 2017. The stock debuted at Rs 612 on BSE compared with the initial public offer (IPO) price of Rs 603. In October 2017, Eris Lifesciences Ltd (Eris) acquired the entire shareholding of UTH Healthcare Ltd (UTH) for an all-cash consideration of Rs 129 million. UTH is largely engaged in the segments of obesity, diabetes, gestational diabetes mellitus, maternal nutrition, and cardio-vascular diseases. The acquisition provides Eris with a portfolio of products that complement its other offerings. In December 2017, Eris Lifesciences Ltd (Eris) acquired the Indian branded formulations business of Strides Shasun Ltd (Strides) for an aggregate cash consideration of Rs 5000 crore. With this acquisition, Eris acquired the marketing and distribution rights for India for 130+ brands in the Neurology, Psychiatry, Nutraceuticals and Women Healthcare therapy areas. The Indian branded formulations business being divested by Strides had sales of Rs 181 crore for FY 2017. During the year 2018, capital expenditure amounted to Rs 242.69 million. Additionally, consideration of Rs. 5,061.52 million was paid towards business acquisition. During the year 2018, UTH Healthcare Limited and Eris Healthcare Private Limited (earlier known as Strides Healthcare Private Limited) became subsidiaries of the Company. As on March 31, 2019, the Company has 5 subsidiaries out of which 4 are wholly owned subsidiaries. During the year 2019, capital expenditure amounted to Rs 374.15 million. Additionally, consideration of Rs. 107.22 million was paid towards business acquisition. In April 2019, the Company acquired the remaining shares of Kinedex Healthcare Private Limited, thereby making it a wholly owned subsidiary. It launched new business divisions, ErisART, Nutriverse, Aspire, Oncosciences, Filix, and Allure. A newly constructed facility for soft-gel was added in the year 2019 with total production capacity of 75 mn units. An extended facility has been included for supplements and Nutraceuticals with an additional capacity of 60 mn tablets, 41 mn capsules and 4 mn sachets. In December 2019, it launched Zomelis, after acquiring the trademark from Novartis. As on March 31, 2020, the Company has 5 five wholly owned subsidiaries. During the year 2020, the Company has acquired the remaining shares of Kinedex Healthcare Private Limited, thereby making it a wholly owned subsidiary. Eris Healthcare Private Limited has incorporated subsidiary company 'Eris Pharmaceuticals Private Limited' on 2nd, June 2020. In Q3 FY 20, the Company launched Rariset, under their in-licensing agreement with Pharmanutra S.P.A for their patent protected Sucrosomial Iron. As on March 31, 2021, the Company has 3 three wholly owned and 1 other than wholly owned subsidiaries. During the year 2021, two Companies namely Aprica Healthcare Limited and Eris Therapeutics Private Limited ceased to be subsidiaries of the Company. Eris Healthcare Private Limited, wholly owned subsidiary of the Company, had incorporated a subsidiary company 'Eris Pharmaceuticals Private Limited' on 2nd June, 2020. In FY'21. the Company strengthened portfolio with Gluxit, its Dapagliozin brand in the strategically important SGLT 2 segment launched in October'20. Eritel and LNBloc maintained ranks in their respective segments and made a debut in fast-growing anti-thrombotics segment through the launch of Rivalto, Rivaroxaban offering. It fortified portfolio with the launch of ZACD, an immunity-enhancing formulation and added Bricet to its portfolio. Of the top 4 Mother Brands - Serlift, Desval ER, Sonaxa and Levroxa while Serlift, and Desval ER maintained theirranks in their respective segments. As on March 31, 2022, the Company has 3 wholly-owned subsidiaries and 2 other than wholly owned subsidiaries. In 2022, Eris Therapeutics Limited, wholly owned subsidiary of the Company, was incorporated on 23rd June, 2021. The Company's wholly owned subsidiary Eris M.J. Biopharm Private Limited (Formerly known as Kinedex Healthcare Private Limited) issued fresh shares through private placement, pursuant to which Eris holding had 70% in Eris M.J. Biopharm Private Limited. It launched human insulin through subsidiary, Eris MJ Biopharm Ltd. In Q4 FY 22, it launched Xsulin in the forms of vials and cartridges. During the year 2023, the Company acquired 100% stake in Eris Oaknet Healthcare Private Limited in 2023. It launched Glura, a DPP4 Inhibitor. In Jan'23, it acquired 9 Derma brands from Glenmark for Rs 3,400 million and in Mar'23, it acquired 9 Cosmetology brands from Dr Reddy's for Rs 2,750 million. In 2022-23, Eris Healthcare Private Limited, a wholly owned subsidiary, demerged its Acquired Brands business to the Aprica Healthcare Limited, a wholly owned subsidiary, through a Scheme of Arrangement effective December 23, 2022. Read More