Pleased to inform you that Biocon Biologics has entered into a long -term commercial collaboration with Eris Lifesciences to expand patient access to its portfolio of Metabolics, Oncology, and Critical Care products in India.
This collaboration is in-line with Biocon Biologics strategy to unlock value from its legacy business of branded formulations built in India.
Total Transaction Value Rs 12,420 million,
Representing 3.4x of Revenues and 18x of EBITDA
Biocon Biologics has also signed a 10 year supply agreement
Over 430 people associated with the business will also transition to Eris Lifesciences ensuring continuity for employees & patients
This collaboration extends the Company’s existing partnership with Eris and will enable it to leverage Eris’s commercial footprint to significantly expand patient access to Biocon Biologics worldclass biosimilars in India.
Shreehas Tambe, CEO & Managing Director, Biocon Biologics Limited, said:
“This strategic collaboration with Eris Lifesciences for our portfolio of Metabolics, Oncology, and Critical Care products in India aligns with our commercial strategy to maximize patient reach and market potential. It builds on the success of our existing partnership with Eris for our Nephrology and Dermatology products and will allow us to deliver our high quality, lifesaving biosimilars to millions of patients in India. Biocon Biologics remains committed to a successful transition of employees of these business units, our product brands, and customers to ensure continuity for patients.”
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