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ChrysCap-backed Eris Life acquires Biocon Biologics' India formulations business

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ChrysCap-backed Eris Life acquires Biocon Biologics' India formulations business

Mumbai-based pharmaceutical company Eris Lifesciences, backed by private equity firm ChrysCapital, is set to acquire Biocon Biologics' India branded formulation business for $150 million. The deal, including insulin brands Basalog and Insugen, is expected to be finalized by 15 April, 2024. Eris aims to strengthen its diabetes care franchise and expand into the oncology and critical care sectors. The acquisition also includes a 10-year supply agreement with Biocon Biologics. This move follows Eris's previous acquisitions in the neuropsychiatry and dermatology sectors. Eris Lifesciences operates with a domestic-branded formulations business model and has a distribution network of over 2,000 stockists and 500,000 chemists.

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