Bengaluru-based drug maker Strides Shasun has agreed to sell its domestic branded formulations business to Ahmedabad-based Eris Lifesciences for Rs 500 crore, joining a select league of Indian pharmaceuticals firms exiting domestic market to focus on more lucrative international business.Strides’ India branded generics business comprise of a portfolio of 130+ brands in the domains of...
Bengaluru-based drug maker Strides Shasun has agreed to sell its domestic branded formulations business to Ahmedabad-based Eris Lifesciences for Rs 500 crore, joining a select league of Indian pharmaceuticals firms exiting domestic market to focus on more lucrative international business.
Strides’ India branded generics business comprise of a portfolio of 130+ brands in the domains of Neurology, Psychiatry, Nutraceuticals, Gastro, etc. along with the employees forming part of the business.
Shardul Amarchand Mangaldas acted for Eris Lifesciences with the team led by Partners Amit Khansaheb and Roshan Thomas, along with Senior Associates Prateek Lala and Hardik Bhatia and Associates Alekhya Donepudi, Christopher Rao and Rimjhim Khandelwal.
Strides Shasun was acted upon by Tatva Legal with a team led by NK Dilip.
Post-acquisition Eris will break into the league of top 25 companies having a market share of more than 1% in the Indian Pharmaceutical Market.