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.
Company Name | CMP |
---|---|
Sun Pharma Inds. | 1521.95 |
Dr. Reddys Lab | 6279.95 |
Cipla | 1407.55 |
Zydus Lifesciences | 963.50 |
Lupin | 1640.30 |
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