In a development that comes more than a year after it picked up stake in Swiss Parenterals, the board of Eris Lifesciences approved the latest transaction that will be will be effected as a share swap
Eris Lifesciences is set pick up the remaining 30 per cent stake in its subsidiary Swiss Parenterals Ltd, for a consideration of ₹423 crore.
In a development that comes more than a year after it picked up stake in Swiss Parenterals, the board of Eris Lifesciences approved the latest transaction that will be will be effected as a share swap, i.e. through a preferential issuance of Eris equity shares to the seller Naishadh Shah.
In February 2024, Eris had announced its agreement to acquire upto 70 per cent in Swiss Parenterals, to strengthen its presence in sterile injectables. Swiss Parenterals closed 2024-25 at ₹351 crore.
Amit Bakshi, Eris Lifesciences Chairman and Managing Director, said, they proposed to designate Naishadh Shah as Managing Director of Swiss Parenterals. “FY27 promises to be a breakout year for our international business and Naishadh’s continued leadership and stewardship will be pivotal to its growth,” he added.
Naishadh Shah, Wholetime Director of Swiss Parenterals, said, “The Eris platform with its manufacturing capabilities in Ahmedabad and Bhopal, combined with the existing Swiss facilities, will significantly augment our value proposition to our global clientele.”
Eris has been strengthening its portfolio by buying brands from Biocon, Glenmark and Dr Reddy’s Laboratories.
