Eris Lifesciences to invest Rs. 130 crore to set up manufacturing facility in Gujarat

Mumbai, November 13, 2021:

Eris Lifesciences is planning to set up a manufacturing facility in Gujarat, with an investment of Rs. 130 crore, funded by internal accruals. This facility is expected to be commissioned by next year.  

The company stated that it has adopted a growth strategy inclusive of new product launches, inorganic opportunities, expansion of physician coverage, therapeutic diversification, and consolidation of power brands franchise.

Besides, the company stated that it is also looking for acquisitions in therapeutic areas such as cardiovascular, diabetes, vitamins-minerals-nutrients (VMN), neurology, dermatology, and women's health.

“We have an exciting period of organic growth coming up in the next 4 – 5 years. We continue to look for high-return in-licensing and acquisition opportunities, in order to supplement our organic growth initiatives,” stated Krishnakumar V, executive director & chief operating officer at Eris Lifesciences.

The company stated that it is eyeing a 15% growth target for the financial year 2022 and has been outperforming the market in chronic and sub-chronic therapies since pre-pandemic levels.

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. Other blockbuster additions to the product portfolio include the brands Zomelis and Gluxit in oral diabetes care.

"About 92% of our revenue comes from chronic and sub-chronic therapies. Diabetes is our largest therapy area contributing to 32% of the overall business, followed by cardiac care with 26% contribution. Our third-largest therapy vitamins-minerals-nutrients, contributed to 21% of our total revenues," stated V Krishnakumar.

The company has made a seamless transition to the digital era in FY21, with the successful completion of ~3200 digital interactions (webinars) covering over 46,000 medical practitioners since the start of the pandemic, across a range of topics including diabetes, heart failure, impact of Covid on cardio-metabolic health, general immunity, and epilepsy.

Eris Lifesciences Ltd has a pure-play domestic branded formulations business model. Established in 2007, Eris is by far the youngest company in the IPM Top-25. It has focused on chronic and sub chronic lifestyle related therapies and on high-end super-specialist doctors and consulting physicians.  Eris is a fully integrated business with a WHO GMP manufacturing facility in Guwahati that caters to 80% of their revenue and a pan-India distribution network of over 2,100+stockists and 5,00,000+ chemists. PharmaBiz