Eris Lifesciences forms JV with MJ Biopharm to enter insulin segment

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Drug maker Eris Lifesciences on Friday said it has formed a joint venture with Mumbai-based MJ Biopharm to enter the insulin segment.

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 including Aspart, Glargine and Lispro and GLP-1 agonists and potentially other biopharma products in India.

MJ will be responsible for the development, manufacturing and supply of these products to the JV.

"With the formation of this JV with MJ, we are taking our commitment a step further. Over the next 10-15 years, growth in diabetes care will be driven by DPP4-SGLT2 combinations, Insulin Analogues and GLP1 agonists, given the superior clinical evidence on their ability to provide better glycemic control, cardio-renal protection, and weight management," Eris Lifesciences Chairman and Managing Director Amit Bakshi said in a statement.

With the formation of this JV, the company will add Human Insulin, Analogues and GLP-1 agonists to its portfolio, which along with other devices makes it a full-service player in diabetes care, he added.

"I am excited about this collaboration with Eris and we look forward to expand the breadth and depth of the Insulin market in India," MJ Biopharm Managing Director Amol Shah stated.