Eris buying Biocon’s two non core formulations business units

Eris is acquiring Dermatology and Nephrology branded formulations business units of Biocon Biologics (BBL), a subsidiary of Biocon Limited.

  • The transaction is a Slump Sale
  • Revenues of the acquired businesses for FY 2022-23 was Rs. 90 Cr and Net Worth was Rs. 25 Cr as at March 31, 2023
  • Transaction value is Rs 366 cr, inclusive of the working capital
    • It’s valued at 4x of revenues and 22x of EBITDA
  • The transaction is expected to close by the end of Nov 2023

Rationale for the transaction

  • For BBL, to exit out of the non-core business
  • For ERIS, to get a quick access to it’s focus area
Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x