Eris Lifesciences buys Strides Shasun's domestic business in Rs 500 cr deal

Enters central nervous system (CNS) segment, breaks into top 25 domestic ranking

Ahmedabad-based Eris Lifesciences has acquired the domestic formulations business of Strides Shasun in a Rs 500-crore deal, marking its foray into the fast-growing central nervous system (CNS) segment.

This is Eris Lifesciences’ fourth acquisition in 18 months and with this deal it breaks into the league of the top 25 pharma companies in India with a 1 per cent market share and annual sales of Rs 1,100 crore. On its part, Strides Shasun is exiting the domestic market as it sharpens focus on international sales. It will use the sale proceeds to repay Rs 400 crore debts.

The two companies signed an