Khaitan & Co. advises Eris Group on its acquisition of a part of the dermatology portfolio of Glenmark Pharmaceuticals Limited

DEAL DETAILS

Eris Lifesciences Limited | Brand agreement and supply of agreement between Eris Lifesciences Limited and Glenmark Pharmaceuticals Limited

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HEADINGS

DETAILS

1.

Sector

Pharmaceutical Industry

2.

Announcement Date

17-Jan-2023

3.

Completion Date

17-Jan-2023

4.

Name of Client

Eris Lifesciences Limited

Eris Lifesciences Ltd is a publicly listed Indian pharmaceutical company with a pure-play domestic branded formulations business model. Eris has established a leading presence in its core cardio-metabolic franchise in just 15 years from inception. Eris is also successfully diversifying its business with 3 emerging therapies (Dermatology, Neuropsychiatry and Gynaecology).

5.

Buyer Details

Eris Oaknet Healthcare Private Limited | India

6.

Seller Details

Glenmark Pharmaceuticals Limited | India

7.

Deal Description

Eris Oaknet Healthcare Private Limited (a wholly owned subsidiary of the listed entity, Eris Lifesciences Limited) acquired a part of the dermatology portfolio of Glenmark Pharmaceuticals Limited by way of acquisition of 9 (Nine) trademarks along with their applicable line extensions. Eris Oaknet Healthcare Private Limited is the entity which focuses on the dermatology segment business of the listed entity. This transaction helps augment and expand the business of Eris Oaknet Healthcare Private Limited by way of expansion in product offerings

8.

Total Consideration

INR 340 crore (USD 42 million)

9.

Team Members

The core team consisted of Kalpana Unadkat (Partner), Aman Anand (Senior Associate), Ahaan Dar (Associate) with assistance from the following:Arindam Ghosh (Partner), Shailendra Bhandare (Partner)

10.

Role of Firm

Khaitan & Co. advised Eris Group on its acquisition of a part of the dermatology portfolio of Glenmark Pharmaceuticals Limited by way of acquisition of 9 (Nine) trademarks along with their applicable line extensions.