It has two facilities in Gujarat, which produce a wide range of sterile injectable formulations.
“The acquisition of Swiss Parenterals will help us strengthen our India footprint through the launch of a domestic Injectables-focused Branded Formulations business,” Eris Lifesciences Chairman and MD Amit Bakshi said in a statement.
Besides, the emerging markets focus of Swiss Parenterals complements Eris’s India focus very well, he added.
Eris Lifesciences has expanded its Sterile Injectables footprint through the acquisition of a 51 per cent equity stake in Swiss Parenterals Ltd for a consideration of Rs 637.50 crore, the company said in a statement.
Eris reported a 1 per cent increase in its consolidated profit after tax (PAT) at Rs 101 crore for the third quarter ended December 2023. It had reported a PAT of Rs 100 crore in the year-ago period. Its revenue rose to Rs 486 crore from Rs 423 crore in the October-December quarter of 2022-23.
Shares of Eris Lifesciences on Tuesday ended 1.07 per cent up at Rs 923.55 apiece on the BSE.
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