Eris Lifesciences eyes 15% growth target for FY22, to focus on core therapies
Mumbai, July 2, 2021:
Eris Lifesciences is eyeing a 15% growth target for financial year 2022 and will continue to focus on core therapies of cardio-metabolic segment over the next three-four years.
The company stated that it has a five-pronged growth strategy centered around consolidation of power brands, new product pipeline, expansion of physician reach, diversification into other therapies, and inorganic opportunities.
The extended prevalence of the Covid pandemic has heightened awareness around health and wellness. As a result, an uptick in healthcare spending can be expected, both as a result of better awareness as well as early onset of lifestyle diseases in post-Covid patients.
The company stated that it will look for opportunities to expand its CNS franchise (or neurology) and is also looking for therapeutic diversification in high growth areas like women’s health and dermatology.
The company stated that it has increased its focus on the vitamins and minerals (VMN) category in the last year. Taking immunity as a platform, the company launched a nutraceutical product, ZAC-D – a combination of Zinc, Vitamin A, C, and D in a single convenient tablet, which did exceptionally well, considering the current environment and focus on immunity building.
"In FY21, chronic and sub-chronic therapies contributed ~91% to the overall sales. Diabetes is our largest therapy contributing to 32% of the overall business, followed by cardiac care with 26% contribution. Our third-largest therapy vitamin-mineral-nutrients (VMN), contributed to 20% of our total revenues." stated V Krishnakumar, Executive Director and Chief Operating Officer at Eris Lifesciences.
There is a projected increase in the incidence of cardio-metabolic diseases over the next few decades, which will directly impact the company’s growth projections in core therapies of anti-diabetes and cardiology. Additionally, there have been multiple reports of increasing prevalence of diabetes following the use of steroids in Covid treatment, adds Krishnakumar.
He further added, “We are also looking for therapeutic diversification in high growth areas like women’s health and dermatology. We are expanding our footprint in medical devices through our Circa range, presently comprising of blood pressure monitors, IR thermometers and India’s first blood glucose monitors with patented gold cartridge technologies. Our Top 15 mother brands enjoy prominent market shares with 7 out of the Top 15 brands being ranked among Top -5 in their respective categories. We have enough tailwinds in our therapies to enable us to consolidate and grow this brand portfolio through driving better awareness, earlier detection, and comprehensive management of diseases”.
The company has made a seamless transition to the digital era in FY21, with the conduction of more than 2,500 digital interactions covering over 36,000 medical practitioners, across a range of topics including diabetes, heart failure, Covid impact on cardio-metabolic health, general immunity and epilepsy.
Founded in 2007, Eris Lifesciences is a pure-play domestic branded formulation business model. It is focused on chronic and sub chronic lifestyle related therapies and on high-end super-specialist doctors and consulting physicians. PharmaBiz