Biocon Biologics, Eris Lifesciences announce long-term collaboration to expand patient access to metabolics, oncology, critical care products

Bengaluru: Biocon Biologics Limited announced a long-term commercial collaboration with Eris Lifesciences to expand patient access to its portfolio of metabolics, oncology, and critical care products in India.

This collaboration is in line with the company’s strategy to unlock value from its legacy business of branded formulations built over the past two decades and extends its existing partnership with Eris for Biocon’s Nephrology and Dermatology business, announced in December 2023.

As a part of this collaboration, Biocon Biologics will continue to leverage Eris’ strong commercial footprint to significantly expand patient access to its biosimilars in India. The terms of the business sale include a total transaction value of Rs 12,420 million, which represents an accretive multiple of 3.4x of revenues and 18x of EBITDA. As part of the deal, over 430 employees associated with the business are expected to transition to Eris, ensuring continuity for both employees and patients. Biocon Biologics has signed a 10-year supply agreement with Eris, as a part of this deal. The transaction is expected to come into effect on April 1, 2024, subject to customary closing conditions.

Shreehas Tambe, CEO & Managing Director, Biocon Biologics Limited, said, “It builds on the success of our existing partnership with Eris for our nephrology and dermatology products and will allow us to deliver our high-quality, lifesaving biosimilars to millions of patients in India.”

The company remains focused on leveraging its ‘lab to market’ capabilities to make a meaningful difference to healthcare and patients worldwide by enabling affordable access to lifesaving biosimilars.