Companies

Eris buys trademark for Novartis drug for $13 million

Our Bureau Ahmedabad | Updated on December 04, 2019 Published on December 04, 2019

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Zomelis is used to treat type-2 diabetes

Eris Lifesciences Ltd has acquired the trademarks for anti-diabetic drug Zomelis for vildagliptin-based formulations, and its associated trademarks, from Switzerland-based Novartis AG for $13 million (approx ₹93 crore).

Zomelis is used in the treatment of type-2 diabetes and comes under a new class of anti-diabetic drugs known as DPP 4 inhibitors. Ahmedabad-based Eris will start selling the product from December 10 in the Indian market.

“The acquisition of Zomelis will help us strengthen our position in the diabetes care market in India,” said Eris CMD Amit Bakshi. “Zomelis is a strong brand amongst the super specialty prescriptions and has been promoted for close to 10 years. Our inorganic growth strategy continues as we explore good opportunities to strengthen our product offering for patients.”

This is the first innovator pharmaceutical product trademark acquisition by Eris, which claims to be among the leading players in the anti-diabetes drugs segment in India.

In December 2017, it had acquired the branded generics business portfolio of Strides Shasun for about ₹500 crore. Its past acquisitions include the UTH, Kinedex and Amay Pharma trademarks to make an entry into the nutraceuticals, women’s health and IVF segments.

Published on December 04, 2019
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