Eris Lifesciences

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Eris Life said that the transaction would help augment and expand cosmetic dermatology business of the company through their product offerings

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In January Eris had bought some derma brands from Glenmark Pharma as well

Eris and Dr. Reddy's did not immediately respond to Reuters' requests seeking the names of the dermatology brands

According to the technical analyst from Anand Rathi, Bandhan Bank can be shorted for a price target of Rs 272, while Eris Lifesciences can be bought for a target of Rs 800.

The firms had launched generic versions of Boehringer's patent-protected drug Linagliptin, which is marketed under the brand name Trajenta

With a revenue base of Rs 195 crore in FY22, Oaknet brings a portfolio of leading brands in dermatology and women's health to the Eris stable.

Eris Lifesciences (Eris) is foraying into an oligopolistic insulin market with its own insulin brand this month

The company launched four new products in the first nine months of FY22, more on the anvil

The purpose of entering into the agreement is expansion of product portfolio to offer biotherapeutic options to the patients in cardio-metabolic segment, Eris said in statement

Eris MJ Biopharm, the 70:30 joint venture (with Eris holding a 70 per cent stake), would primarily engage in marketing and distribution of human and analogue insulin

Consolidated total income up 13%; robust anti-diabetic sales, new product pipeline, expanded coverage of cardiologists support better numbers

Overall, the company saw decent growth in its product segments, led by cardio metabolic and vitamin-mineral-nutrients

Eris continued to demonstrate strong focus on its top 15 power brands

Full-year pre-tax profit up 4.46% at Rs 331.52 cr

In October, some large domestic mutual funds took an aggressive position in the stock, monthly disclosures show

In the past one month, the stock has outperformed the market by surging 17 per cent, as compared to a marginal 0.35 per cent rise in the S&P BSE Sensex.

Used in the treatment of type 2 diabetes, Zomelis comes under a new class of anti-diabetic drugs known as DPP 4 inhibitors.

Around 3.82 million equity shares, representing 2.78 per cent of total equity, of Eris Lifesciences changed hands on the BSE, the exchange data shows.