The shares of this pharmaceutical company jumped up to 8 percent to hit an all-time high price of Rs 971.30 per share after the company announced the acquisition of Nephrology and Dermatology Branded Formulations business units of Biocon Biologics Ltd.
Eris Lifesciences Ltd is a small-cap company with a market capitalization of Rs 12,209 crores. On Thursday, The company shares closed at Rs 913.30 a share, an increase of 1.75 percent from the previous close price of Rs 897.6 a share.
According to the company’s filing, Eris Lifesciences Ltd the company announced the acquisition of Nephrology and Dermatology Branded Formulations business units worth Rs 366 crores of Biocon Biologics Ltd, with the entire field workforce of this business, consisting of over 120 personnel.
In addition to the stated above, After the acquisition, Eris Lifesciences Ltd will become the 2nd largest player in Psoriasis with an 11 percent market share and Dermatology is all set to become Eris’ third largest therapy soon, after Diabetes and Cardiovascular, With dominant market position in three of the top-5 chronic therapies.
Examining the business’s financials, the company’s revenue increased 9.7 percent from Rs. 460.51 crores in Q2FY23 to Rs 505.3 crores in Q2FY24. Further, During the same period, Net Profit increased by 2.45 percent from Rs 119.38 crores to Rs 122.31 crores.
The company reported excellent return ratios in the recent financial year with a return on equity (ROE) of 18.25 percent and a return on capital employed (ROCE) of 17.31 percent.
Eris Lifesciences Ltd recent shareholding pattern, the company’s promoters own 54.91 percent, retail shareholders own a 17.37 percent stake and foreign institutional investors own a 13.2 percent stake in the company.
Eris Lifesciences Ltd stock gave a return of 43.46 percent in six months and 28.33 percent in a year. ERIS Lifesciences Ltd is engaged in the business of manufacturing and marketing pharmaceutical products.
Written by:- Abhishek Singh
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