Eris Lifesciences acquires Oaknet Healthcare
By MYBRANDBOOK
Eris Lifesciences Limited announced the acquisition of Mumbai-based dermatology formulations company Oaknet Healthcare Pvt Ltd for Rs 650 crore. Eris Lifesciences offers chronic and sub-chronic lifestyle-related therapies. With this acquisition, Eris Lifesciences will foray into the dermatology and cosmetology segment.
The company said, “Oaknet brings a well-established portfolio of leading brands in dermatology and women’s health to the Eris stable. Eris’ speciality franchise will get a significant impetus with this acquisition, with Eris now present in 87 percent of the Rs 55,000-crore chronic market, with a leading presence in the major chronic therapies in the IPM – cardiology, oral diabetes care, insulin, neuro/CNS and dermatology.”
Oaknet has a coverage of nearly 11,000 dermatologists across India and a pan-India sales and distribution presence. The company's product line covers dermatology, gynaecology, pain management, nutritional, cardiology, and diabetes, among other conditions.
Amit Bakshi, Chairman and Managing Director of Eris Lifesciences Ltd, said, “In line with the Strides and Zomelis acquisitions, we are confident that the Oaknet transaction will create long-term value for our shareholders.”
Eric Lifesciences’ business is based on two pillars – harnessing the power of cutting-edge science to bring evidence-based therapies to the market, and enabling patients to take charge of their diagnoses and their lives through their patient care initiatives.
Krishnakumar V, Executive Director and Chief Operating Officer of Eris Lifesciences Ltd, said, “The acquisition of Oaknet brings marquee brands like Cosvate and Cosmelite into the Eris portfolio. We expect to bring to bear multiple value creation levers including in-house manufacturing, new product launches, expansion of field force productivity and enhancement of operational efficiency.”
The company is a fully-integrated pan-India business with a strong focus on high-end super-specialist doctors and consulting physicians. For fiscal 2022, the company reported consolidated net profit of Rs 406 crore from Rs 355 crore, up 14 percent year-on-year. Consolidated revenues from operations grew 11 percent from Rs 1,212 crore to Rs 1,347 crore.
BREAKING NEWS
TECHNO TRENDS
Microsoft to build a new data centre to support Thailand's tec
Microsoft has revealed intentions to construct a regional data centre as w...
SAP launches cloud services to help Indian scaleups innovate m
SAP at SAP unveils now "GROW with SAP for Scaleups," a new cloud service d...
Denodo and Sonata form alliance to unlock data-to-value creati
Denodo and Sonata Information Technology India Limited (SITL) have annou...
Google Play Store will now let users download two apps simulta
Google Play Store now lets users download two apps simultaneously. While a...
E-Magazine
TECHNOTAINMENT
ED attaches Raj Kundra, Shilpa Shetty’s Rs 97 crore worth as
The Enforcement Directorate (ED) has seized businessman Raj Kundra's pro
Salman Khan trolled for singing with B Praak at Anant Ambani's
To celebrate Mukesh Ambani's youngest son Anant Ambani’s 29th birthday
MOVERS & SHAKERS
DigiCert names Atri Chatterjee as CMO
DigiCert has announced the appointment of Atri Chatterjee as Chief Market
Amagi names its Chief Product Officer
Amagi announced the appointment of Richard Perkett as its Chief Product Of
OPEN YOUR EYES
INTERVIEWS
InstaSafe’s growth has always been determined by its custome
With the epidemic, India became a major global market, and in the years 202
CommScope celebrates its 25 years of legacy in India by contin
A strong brand must also reflect the company values and speak exactly what
HOT PICK
COLORFUL rolls out an array of gaming laptops
COLORFUL launched its incredible series of COLORFUL EVOL P15 gaming laptop
Dell Technologies launches new AI-powered commercial PC portfo
Dell Technologies has launched the broadest portfolio of commercial AI lap
MAKE IN INDIA BRANDS
TP-LINK INDIA PVT LTD.
OPTIEMUS INFRACOM
DRUVA SOFTWARE PVT. LTD.
LENOVO GROUP LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Kulmeet Bawa
Kulmeet Bawa resides as President & Managing Director, SAP Indian subc...
Technology Icons Of India 2023: Lt Gen (Dr.) Rajesh Pant (Retd.)
LT Gen(Dr.) Rajesh Panth (Retd.), National cyber security coordination...
Technology Icons Of India 2023: Bhavish Aggarwal
Ola CEO Bhavish Aggarwal had formed Ola-India’s largest mobility pla...
PARTNER SPEAKERS
PSU
BBNL empowering rural India digitally
BBNL provide high speed digital connectivity to Rural India at afforda...
INDIANOIL helps reach precious petroleum fuels to every nook and corner of the country
IndianOil, a diversified, integrated energy major with presence in alm...
Leading company into fertilizers in the country
NFL is a dynamic organization committed to serve the farming community...
VIDEOS
Top 25 Brands
Value-Added Distribution
TEXONIC INSTRUMENTS
Texonic has carved a niche for itself in the Technology Distribution i...
B D SOFTWARE
BD Software is the distributor of IT security solutions in India. The ...
R P TECH INDIA
R P Tech is recognized for its diverse products portfolio, value-add...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
