The scrip rose 2.85% to Rs 446.25 after it informed about the acquisition of the trademark for anti-diabetes novel drug Switzerland based Zomelis for $13 million.
The acquisition of the trademark from Novartis AG is only for the Indian market, the company said in a exchange filing. The announcement was made post trading hours yesterday, 3 December 2019.
Eris Lifesciences will start selling the product from December 10 in the Indian market.
The company said that the acquired trademark has been used for marketing Vildagliptin formulations, an oral anti-diabetic drug that has been promoted in India for close to 10 years. The trademark along with its applicable associate marks presently enjoy sales on a moving annual total (MAT) basis of Rs.63.96 crore.
Eris Lifesciences is engaged in manufacturing, marketing and selling of generics within the chronic and acute categories of the indian pharmaceutical market.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app