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Eris Lifesciences acquires 9 Dermatology brands from Dr Reddy's Labs for Rs 275 crore

Ruchika SharmaWritten by Ruchika Sharma Published On 2023-03-17T11:38:58+05:30  |  Updated On 17 March 2023 11:38 AM IST
Eris Lifesciences acquires 9 Dermatology brands from Dr Reddys Labs for Rs 275 crore
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The brands are largely in cosmetology segments like anti-acne, moisturisers, cleansers, anti-ageing, hair health, melasma etc.

Mumbai: Eris Lifesciences Limited, an Indian branded formulations manufacturing company, has announced its acquisition of 9 Dermatology brands from Dr Reddy’s Laboratories for a total consideration of Rs 275 crore.

The brands are largely in cosmetology segments like anti-acne, moisturisers, cleansers, anti-ageing, hair health, melasma etc.. Post this deal, Eris will rank 3rd in its dermatology covered market with a market share of ~ 7%.

Eris entered the dermatology segment through the acquisition of Oaknet Healthcare for Rs 650 crore in May ‘22 and strengthened this franchise with the acquisition of 9 dermatology brands from Glenmark in Jan ‘23 for Rs 340 crore.

Read also: Eris Lifesciences to acquire Onabet, Halobate and 7 other dermatology brands from Glenmark Pharma for over Rs 338 crore

Inclusive of this deal, Eris has invested Rs 1,265 crore in acquisitions in FY23, primarily in building up its Dermatology franchise. This has also resulted in significant diversification of Eris’ therapy base. Pre-Oaknet, Eris derived 80 percent of its revenues from the Cardiometabolic and VMN segments. The concentration of these therapies is now down to 65 percent while the contribution from the Emerging Therapies has increased from 12 percent to 28 percent with Dermatology emerging as Eris’ fourth largest therapy with a 15 percent share in overall revenue.

Commenting on the acquisition, Mr. Amit Bakshi, Chairman & Managing Director of Eris Lifesciences Ltd., said, “Starting with our inception in 2007, it took us 13 years to add the “First 1000 crore” of revenue. However we are adding the “Next 1000 crore” of revenue in just 4 years by deploying our internal cashflows along with external funding to drive a mix of organic and inorganic growth while protecting our margins. We expect this will continue to be a way of life at Eris going forward.”

M.V. Ramana, CEO – Branded Markets (India & Emerging Markets), said: “India is a focus market for us. We aspire to break into the top 5 in India. Today’s announcement is in line with our stated intention of pursuing a strategy that involves growing brands organically combined with acquisitions that are a strategic fit and divestment of non-core brands. This deal is a further step towards consolidating our core and helping us deliver focused play in India in keeping with our purpose of ‘Good Health Can’t Wait’.”
Eris LifesciencesEris Lifesciences newsDr Reddys LabsDr Reddys Labs newsOaknet HealthcareGlenmark
Ruchika Sharma
Ruchika Sharma

    Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

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