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Biocon’s arm transfers branded formulations business in India to Eris Lifesciences

03 Apr 2024 Evaluate

Biocon’s subsidiary -- Biocon Biologics has completed the transaction of transfer of its branded formulations business in India to Eris Lifesciences on a slump sale basis. The slump sale is on a standalone basis and not pursuant to amalgamation/merger. The transaction is completed on April 2, 2024. 

The consideration received from such sale/disposal is Rs 1,242 crore including working capital adjustments. Eris Lifesciences (Eris) is a publicly listed Indian pharma company with a pure-play domestic branded formulations business model.

Biocon is India’s largest and Asia’s leading Biotechnology Company with a strategic focus on biopharmaceuticals and research services. It is a fully integrated, innovation driven biopharma enterprise offering affordable solutions for chronic diseases to patient's worldwide.


Peers
Company Name CMP
Sun Pharma. Inds. 1788.50
Dr. Reddys Labs. 1200.50
Cipla 1325.20
Lupin 2006.40
Zydus Lifesciences 1140.70
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