Inclusive of this deal, Eris has invested Rs 1,265 crore in acquisitions in FY23, primarily in building up its Dermatology franchise. This has also resulted in significant diversification of Eris’ therapy base. Pre-Oaknet, Eris derived 80 percent of its revenues from the Cardiometabolic and VMN segments. The concentration of these therapies is now down to 65 percent while the contribution from the Emerging Therapies has increased from 12 percent to 28 percent with Dermatology emerging as Eris’ fourth largest therapy with a 15 percent share in overall revenue.

Commenting on the acquisition, Mr. Amit Bakshi, Chairman & Managing Director of Eris Lifesciences Ltd., said, “Starting with our inception in 2007, it took us 13 years to add the “First 1000 crore” of revenue. However we are adding the “Next 1000 crore” of revenue in just 4 years by deploying our internal cashflows along with external funding to drive a mix of organic and inorganic growth while protecting our margins. We expect this will continue to be a way of life at Eris going forward.”