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Eris Lifesciences acquires trademark Zomelis from Novartis AG for India market

Press Trust of India  |  New Delhi 

Drug firm Eris Lifesciences on Tuesday said it has acquired the trademark Zomelis and its associated trademarks from pharma major Novartis AG for the Indian market for USD 13 million (over Rs 93 crore).

The company will start selling the product from December 10 in the Indian market, Eris Lifesciences said in a statement.

Zomelis is used in the treatment of type 2 diabetes, it added.

"The acquisition of Zomelis will help us strengthen our position in the diabetes care market in India. Zomelis is a strong brand amongst the super speciality prescriptions and has been promoted for close to 10 years," Eris Lifesciences Chairman and MD Amit Bakshi said.

The company's inorganic growth strategy continues as it explores good opportunities to strengthen its product offering for patients, he added.

This is the first innovator pharmaceutical product trademark acquisition by Eris, the statement said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, December 03 2019. 20:30 IST