Eris Lifesciences soars 10% on JV with MJ Biopharm to enter insulin segment

The purpose of entering into the agreement is expansion of product portfolio to offer biotherapeutic options to the patients in cardio-metabolic segment, Eris said in statement

Shares of Eris Lifesciences surged 10 per cent to Rs 773.40 on the BSE in Monday’s early morning trade after the pharmaceutical company on Friday said it has formed a joint venture (JV) with Mumbai-based MJ Biopharm to enter the insulin segment.

The stock had hit a 52-week high Rs 863.15 on October 19, 2021. At 09:26 am; it was trading 5 per cent higher at Rs 743 on the BSE, as compared to 0.14 per cent decline in the S&P BSE Sensex.

Eris MJ Biopharm, the 70:30 joint venture (with Eris holding a 70 per cent stake),