Eris Lifesciences Limited develops, manufacture and commercialize branded prescription based pharmaceutical products in select therapeutic areas within the chronic and acute categories of the IPM, in India. Eris Lifesciences Limited is coming up with a IPO. They are going to introduce their initial public offer which will hit the primary market on 16th June 2017 and closes on 20th June 2017. The company aims to raise around Rs. 2000 crore by offering shares at Rs.600 – Rs.603 per Equity Share.
Eris Lifesciences Limited was incorporated as “Eris Lifescience Private Limited” on January 25, 2007 at Ahmadabad. They focus on pharmaceutical products in therapeutic areas within the chronic and acute categories of the IPM(Indian Pharmaceutical Market) like cardiovascular, anti-diabetics, vitamins, gastroenterology, and anti-invectives.
They are developing products in the chronic and acute category which are linked to disorders related to lifestyle.
Their product portfolio comprised of 56 mother brand groups not including their acquisitions. The firm’s product portfolio is focused on therapeutic areas which need the intervention of specialists as well as super specialists such as cardiologists, diabetologists, endocrinologists and gastroenterologists.
Their products in the chronic category of the IPM cater primarily to the following therapeutic areas:
- Cardiovascular: They had a portfolio of 39 brands in the cardiovascular therapeutic area including 30 brands in the hypertension subgroup, 19 of their cardiovascular brands were ranked in the top 10 in their respective subgroup of the IPM in terms of revenues till March 31, 2016.
- Anti-diabetics: They have a portfolio of 19 brands in the anti-diabetics therapeutic area out of which eight brands were ranked in the top 10 in their respective subgroup of the IPM.
Their product portfolio in the acute category of the IPM is:-
- Vitamins: They have grown around the sixth largest company in cholecalciferol oral solids (including combinations) subgroup.
- Gastroenterology: They had a portfolio of 31 brands in the gastro-intestinal therapeutic area, of which five brands were ranked in the top 10 in their respective subgroup of the IPM.
- Anti-infectives: They have generated convincing revenue in that field too. They launched their mother brand, Marzon to address anti-infectives resistance.
- Gynecology: They have developed their portfolio of products in the gynecology therapeutic area with a focus on products catering to women’s health. In the gynecology therapeutic area they focus on polycystic ovarian syndrome (“PCOS”) and PCOS related infertility management.
The firm owns and operates a manufacturing facility in Guwahati, Assam. They also outsource the manufacturing of certain products and use approx 20 third party manufacturers. They have developed capabilities in the commercialization of pharmaceutical products including sales, marketing, quality assurance, distribution, compliance and regulatory aspects. They have sales team comprised of around 1,310 marketing representatives.
- Focus on branded prescription based pharmaceutical products catering to lifestyle related disorders
- Portfolio of high volume and leading brands
- Focus on metro cities and class 1 towns in India which have higher incidence of lifestyle disorders and concentration of specialists and super specialists
- Multi-faceted product selection and engagement model leading to growth in prescription
- Strong sales, marketing and distribution capabilities
- Consolidate position in therapeutic areas in which they have significant presence
- Target and enhance their presence in large and high-growth therapeutic areas
- Explore in-licensing and co-development opportunities to leverage their sales, marketing and distribution and manufacturing infrastructure
- Target future patent expiries in India
- Enhance product line and expand their capabilities through strategic acquisitions
Objects of the Issue:
The objects of the Offer are as follows:
1. To achieve the benefits of listing the Equity Shares on the Stock Exchanges and
2. For the sale of up to 28,875,000 Equity Shares by the Selling Shareholders.
Eris Lifesciences reported net profit of Rs 129 crore on revenues from operations of Rs 370 crore for the six months ended 30 September 2016, as per the prospectus.
For FY2015-16, revenues from operations stood at Rs 597 crore compared with Rs 545 crore in the previous year. Consolidated net profit for FY2015-16 was Rs 133 crore compared with 89 crore the year before
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