Eris Lifesciences

** Shares of Eris Lifesciences ERIS.NS fall 4.5% to 1,368.10 rupees

** Company said Croatia's medicines regulator flagged non-compliance observations at its subsidiary Swiss Parenterals' Unit-1 and Unit-2 injectables facilities in Ahmedabad, Gujarat

** Says observations are procedural, remediation underway

** May delay commercialisation of EU-CDMO product pipeline, co says; adds, minimal impact expected on existing business

** ERIS rated "buy" on average by 10 analysts, median PT 1,773 rupees - data compiled by LSEG

** YTD, stock down about 5%

(Reporting by Surbhi Misra in Bengaluru)

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** Analysts highlight strong semaglutide opportunity as ~10 Indian firms roll out generics

** Novo Nordisk's semaglutide patent expires this week

** Nomura says Zydus Lifesciences ZYDU.NS, Alkem Laboratories ALKE.NS, Sun Pharmaceutical Industries SUN.NS among most differentiated launches

** Adds Zydus's adjustable-dose reusable pen key differentiator

** Note Alkem "aggressive on pricing", with disposable pens at 2,000 rupees/month vs peers at 4,200-5,200 rupees

** Sees India's semaglutide market exceeding 120 bln rupees ($1.28 bln) in five years; India's obesity drug market at ~15 bln rupees as of March, per Pharmarack estimates

** Macquarie says Torrent Pharmaceuticals TORP.NS gains first-mover advantage in oral semaglutide

** Flags steep discounts of 50%-80% on pens, up to 85% on vials from Eris Lifesciences ERIS.NS, Glenmark Pharmaceuticals GLEN.NS, Natco Pharma NATP.NS

** Sees near-term price erosion before volume-driven expansion

($1 = 93.9125 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru)

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March 20 (Reuters) - India's Eris Lifesciences ERIS.NS on Friday launched one of the most affordable versions of Ozempic so far, with the lowest dosage of generic semaglutide starting at 1,290 rupees ($13.8) per month.

• Launch under the brand Sundae in India for diabetes, with lowest dose of a Sundae vial, at 2 mg.

• Natco Pharma NATP.NS, Eris' partner for the semaglutide launch, priced its lowest 2 mg dose at 1,290 rupees a month.

• Eris also plans to launch a pen device version of Sundae in April, in three dosages. The lowest 2 mg dose will cost 4,000 rupees per month and the highest 8 mg dose 4,500 rupees per month.

• Eris is among dozens of Indian drugmakers that are launching generic semaglutide as Danish drugmaker Novo Nordisk's NOVOb.CO semaglutide patent is set to expire on March 20.

• Larger peer Dr Reddy's REDY.NS is expected to launch on Saturday.

• Indian generic drugmakers, known globally for producing low-cost medicines, are expected to price their generics at discounts of at least 50% to 60%.

• On a monthly basis, Sundae's lowest dose is 88% cheaper than that of Novo's Wegovy and 91% cheaper than the lowest dose of U.S. drugmaker Eli Lilly's LLY.N Mounjaro.

($1 = 93.7630 Indian rupees)

(Reporting by Nandan Mandayam and Rishika Sadam)

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Feb 24 (Reuters) - Eris Lifesciences Ltd ERIS.NS:

• ANNOUNCES STRATEGIC PARTNERSHIP WITH NATCO PHARMA FOR SEMAGLUTIDE LAUNCH IN INDIA

Further company coverage: ERIS.NS

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Feb 13 (Reuters) - Eris Lifesciences Ltd ERIS.NS:

• ERIS LIFESCIENCES DEC-QUARTER CONSOL NET PROFIT 997.2 MILLION RUPEES

• ERIS LIFESCIENCES DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 8.07 BILLION RUPEES

Source text: ID:nBSE8gLCKW

Further company coverage: ERIS.NS

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** Shares of Eris Lifesciences ERIS.NS rise 2.6% to 1,481 rupees

** Drugmaker reports 32% Y/Y rise in Q4 consol net profit to 937.4 mln rupees ($11 million), rev from ops grew 28% Y/Y

** Stock rated "buy" on avg; median PT is 1,595 rupees, per data compiled by LSEG

** Stock up 11.3% YTD

($1 = 85.4380 Indian rupees)

(Reporting by Rudra Pratap Singh in Bengaluru)

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BENGALURU, May 19 (Reuters) - Diary of India economic, corporate events on May 19

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

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** India's Lupin LUPN.NS and Eris Lifesciences ERIS.NS rise about 2% each

** Macquarie says both pharmaceutical cos well-positioned to gain market share in India's insulin market after report suggests Novo Nordisk NOVOb.CO may discontinue some key brands in India

** Novo Nordisk is discontinuing India's largest selling insulin, Human Mixtard, among other older insulin brands in India, as per a Times of India report earlier this week

** LUPN on course for fifth consecutive session of gains, while ERIS rises for third day in a row

** Assuming the two companies capture Novo's vacated market share equally, it could mean ~10% revenue upside for ERIS and ~1% for LUPN - Macquarie

** Brokerage has "outperform" rating on LUPN and ERIS

** YTD, LUPN down 8.8%, while ERIS up 10.8%

(Reporting by Vivek Kumar M)

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Feb 7 (Reuters) - Eris Lifesciences Ltd ERIS.NS:

• INTERIM DIVIDEND OF 7.35 RUPEES PER SHARE

Source text: [ID:]

Further company coverage: ERIS.NS

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Feb 4 (Reuters) - Eris Lifesciences Ltd ERIS.NS:

• DEC-QUARTER CONSOL NET PROFIT 836.3 MILLION RUPEES

• DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 7.27 BILLION RUPEES

Source text: ID:nBSEc1NY4d

Further company coverage: ERIS.NS

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Oct 25 (Reuters) - Eris Lifesciences Ltd ERIS.NS:

• SEPT-QUARTER CONSOL NET PROFIT 915.9 MILLION RUPEES

• SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 7.41 BILLION RUPEES

• EXECUTION OF TERM SHEET FOR ACQUIRING 30% STAKE IN LEVIM LIFETECH

• DEAL FOR PRIMARY EQUITY INVESTMENT OF 540 MILLION RUPEES

Source text for Eikon: ID:nBSE80445x

Further company coverage: ERIS.NS

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Oct 23 (Reuters) - Eris Lifesciences Ltd ERIS.NS:

• ERIS LIFESCIENCES LTD - ACQUIRED 100% STAKE IN ERIS PHARMACEUTICALS

Source text for Eikon: ID:nBSE8qffnr

Further company coverage: ERIS.NS

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** Indian pharma stocks .NIPHARM have outpaced the broader market and Macquarie expects the rally to continue due to expectations of earnings boost

** Sees pharma earnings benefitting from steady domestic growth, benign price erosion in U.S. generics market

** Calls Sun Pharma SUN.NS its top pick, followed by Lupin LUPN.NS, Cipla CIPL.NS, Zydus Lifesciences ZYDU.NS and Aurobindo Pharma ARBN.NS

** Its top small/mid-cap pick is Eris Lifesciences ERIS.NS

** Brokerage raises target price of 7 of 10 pharma companies it covers, including Sun, Cipla, Lupin and Aurobindo Pharma

** Pharma stocks up 0.7%, with 17 of 20 constituents higher

** Pharma stock have jumped 18.4% since July start, vs Nifty's 4% rise, on steady earnings and higher foreign inflows

(Reporting by Bharath Rajeswaran in Bengaluru)

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HYDERABAD, Aug 8 (Reuters) - Biopharmaceutical company Biocon Ltd BION.NS reported a more than six-fold rise in first-quarter profit on Thursday, boosted by a one-time gain from the sale of its Indian branded formulations business.

Biocon said in March it would sell the branded formulations business to Eris Lifesciences ERIS.NS in a deal worth 12.42 billion rupees.

"Transaction has come into effect on April 1,2024... Gain of 10.57 billion rupees is accounted after taking into account working capital and expenses incurred towards commercial collaboration," Biocon said.

The company, which counts the United States and Europe as key markets, posted a net profit attributable to shareholders of 6.6 billion rupees ($78.62 million) for the quarter ended June 30, compared with 1.01 billion rupees a year earlier.

The company's quarterly profit was also boosted by the increased market share of its biosimilars, which include treatments for cancer, diabetes and immunology-related conditions.

Biocon had invested more than $1 billion rupees in its biosimilars unit and acquired businesses globally to compete in the market expected to triple in value to $74 billion by the end of the decade.

Revenue from its biosimilars segment rose 3.4% to 20.83 billion rupees from a year ago.

However, revenue from its generics segment fell 5.9% to 6.6 billion rupees, hurt by pricing pressure in the U.S. market.

The company's shares closed 2.2% lower on Thursday, ahead of the results.

($1 = 83.9460 Indian rupees)

(Reporting by Rishika Sadam; Editing by Eileen Soreng and Shreya Biswas)

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MUMBAI, June 7 (Reuters) - India's Eris Lifesciences ERIS.NS has accepted bids worth 12.50 billion rupees ($149.78 million) through the sale of separately transferable redeemable principal part (STRPP) bonds maturing in three years, three bankers said on Friday.

It will pay a 8.73% coupon on the bond issue and had invited bids on Thursday, they said.

Here is the list of deals reported so far on June 7:

*Size includes base plus greenshoe for some issues

($1 = 83.4575 Indian rupees)

(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Sohini Goswami)

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MUMBAI, June 5 (Reuters) - India's Eris Lifesciences ERIS.NS plans to raise up to 12.5 billion rupees ($149.8 million) through the sale of separately transferable redeemable principal part (STRPP) bonds maturing in three years, three bankers said on Wednesday.

It will pay a coupon of 8.73% coupon on this bond issue and has invited bids on Thursday, they said.

Here is the list of deals reported so far on June 5:

*Size includes base plus greenshoe for some issues

($1 = 83.4480 Indian rupees)

(Reporting by Bhakti Tambe; Editing by Sonia Cheema)

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MUMBAI, May 31 (Reuters) - India's Eris Lifesciences ERIS.NS plans to raise 12.50 billion rupees ($150.1 million) through a sale of bonds maturing in three years, three bankers said on Friday.

The company has invited coupon and commitment bids from bankers and investors on Thursday, they said.

Here is the list of deals reported so far on May 31:

*Size includes base plus greenshoe for some issues

($1 = 83.2670 Indian rupees)

(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Varun H K)

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May 21 (Reuters) - Eris Lifesciences Ltd ERIS.NS:

• ERIS LIFESCIENCES LTD MARCH-QUARTER CONSOL NET PROFIT 709.6 MILLION RUPEES VERSUS 654.2 MILLION RUPEES

• ERIS LIFESCIENCES LTD MARCH-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 5.51 BILLION RUPEES VERSUS 4.03 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: ERIS.NS

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** Biocon BION.NS drops ~5% and is the top pct loser on Nifty pharma index .NIPHARM, which is down 1.5%

** BION shares rose 5.8% on Thurs on saying unit Biocon Biologics will sell its branded formulations business to Eris Lifesciences ERIS.NS for 12.42 bln rupees ($150 mln)

** Brokerage Kotak says the deal value was below its expectations; keeps "reduce" rating"

** Eris stock down 2.5%, after gaining 3.8% on Thurs

** Kotak says despite ~10% drop in net debt post deal, BION's leverage (net debt to EBITDA at 2.8X even in FY26) remains a key concern

** Avg rating of 17 analysts on BION is "hold" -LSEG data

(Reporting by Kashish Tandon in Bengaluru)

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Adds details, background in paragraphs 2, 6-9

BENGALURU, March 14 (Reuters) - Biopharmaceutical company Biocon's BION.NS unit Biocon Biologics will sell its Indian branded formulations businesses to Eris Lifesciences ERIS.NS in a deal worth 12.42 billion rupees ($150 million), the companies said in separate exchange filings on Thursday.

The deal, which is expected to close by April 15, 2024, includes the acquisition of insulin brands Basalog and Insugen which Eris said will help its diabetes treatment franchise reach 10 billion rupees in revenue, without specifying a timeline.

The purchase of the branded formulations business will also mark the pharmaceutical firm's entry into the oncology and critical care segments, Eris added.

The revenue in fiscal 2023 from the business that Biocon is selling accounted for 3.7% of the Bengaluru-based company's consolidated revenue, it said.

Biocon had earlier sold its dermatology and nephrology branded formulation businesses to Eris for 3.5 billion rupees in November last year.

Shares of Biocon settled up 5.8% after the announcement while Eris' stock closed 3.8% higher.

($1 = 82.8170 Indian rupees)

(Reporting by Varun Vyas in Bengaluru; Editing by Janane Venkatraman and Sonia Cheema)

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HYDERABAD, Feb 8 (Reuters) - Indian biopharmaceutical company Biocon Ltd BION.NS swung to a third-quarter profit on Thursday, boosted by its biosimilars business and the sale of some of its non-core units, and said Chief Financial Officer Indranil Sen had resigned.

Sen, who has been with the company for nearly a decade, resigned from the role to pursue career opportunities outside of Biocon, it said. He will be with the company until March 15.

For the latest quarter, the Bengaluru-based company reported a consolidated net profit of 6.6 billion rupees ($79.6 million), compared with a loss of 418 million rupees a year earlier.

"Steady market shares for key biosimilars in the U.S. and EU were complemented by the Emerging Markets performance which saw a number of new product launches and tender wins," Biocon Executive Chairperson Kiran Mazumdar Shaw said.

Revenue from operations surged 34% to 39.54 billion rupees, with its largest segment, biosimilars, reporting a 64.8% increase in revenue to 24.83 billion rupees.

Biosimilars are copies of costlier biological drugs made from living cells, primarily used in treating major ailments such as cancer and rheumatoid arthritis. The acquisition of U.S.-based Viatris also helped drive growth at the main business.

The generics segment reported a 7.5% fall in revenue.

The company also recorded gains of 3.5 billion rupees from the sale of its dermatology and nephrology branded formulation businesses to Eris Lifesciences ERIS.NS during the quarter and 4.56 billion rupees from stake dilution in its subsidiary, Bicara Therapeutics.

Shares of Biocon closed 1.9% lower on Thursday.

($1 = 82.9680 Indian rupees)

(Reporting by Rishika Sadam; Editing by Dhanya Ann Thoppil and Anil D'Silva)

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** India's pharmaceutical sector growth slowed to 2.9% year-on-year in November from 13.7% in October as volumes drop, data from All India Origin Chemists and Distributors (AIOCD) showed

** Volumes in November down 4.5% year-on-year after rising 5% in the previous month

** Dermatology and opthalmology segments witness fall in sales while anti-infectives, cardiac, respiratory segments see rise in sales in November

** Eris Lifesciences ERIS.NS, Cipla CIPL.NS, Torrent Pharmaceuticals TORP.NS, Sun Pharmaceutical Industries SUN.NS and Glenmark Pharmaceuticals GLEN.NS see sales uptick of 7% to 11%, outperforming the Indian pharma market

** FDC FDC.NS, Alembic Pharma ALEM.NS, GlaxoSmithKline Pharmaceuticals GLAX.NS and Mankind Pharma MNKI.NS underperform the industry, in terms of November sales

** Pfizer PFIZ.NS sees sales decline of 11.9% while Sanofi India SANO.NS posts 5.7% monthly sales drop

** Nifty pharma index .NIPHARM down 0.9% on the day, dragged by 5% drop in Dr. Reddy's Laboratories REDY.NS on U.S. drug regulator's observations on the drug maker's facility at Hyderabad

** Pharma index up 27% in 2023 so far, compared with 16% rise in Nifty 50 index .NSEI

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

Nov 10 (Reuters) - Biocon Ltd BION.NS:

• BIOCON LTD - UNIT BIOCON BIOLOGICS DIVESTED BUSINESSES TO ERIS LIFESCIENCES ON A SLUMP SALE BASIS

• BIOCON LTD - SALE FOR 3.66 BILLION RUPEES

Source text for Eikon: ID:nBSEc7SYqs

Further company coverage: BION.NS

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Nov 8 (Reuters) - Eris Lifesciences Ltd ERIS.NS:

• ERIS LIFESCIENCES LTD SEPT-QUARTER CONSOL NET PROFIT 1.23 BILLION RUPEES VERSUS 1.2 BILLION RUPEES

• ERIS LIFESCIENCES LTD SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 5.05 BILLION RUPEES VERSUS 4.61 BILLION RUPEES

Source text for Eikon: ID:nBSE4wX9Zc

Further company coverage: ERIS.NS

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Aug 21 (Reuters) - Eris Lifesciences Ltd ERIS.NS:

• ENTERED INTO TERM LOAN AGREEMENT TO AVAIL RUPEE TERM LOAN FACILITY AMOUNTING TO 1.21 BILLION RUPEES

• CONSOLIDATED NET DEBT OF COMPANY IS NOT EXPECTED TO BE ALTERED DUE TO THIS DEVELOPMENT

Source text for Eikon: ID:nBSE99RrCx

Further company coverage: ERIS.NS

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Aug 7 (Reuters) - Eris Lifesciences Ltd ERIS.NS:

• JUNE-QUARTER CONSOL NET PROFIT 948.6 MILLION RUPEES VERSUS 945.8 MILLION RUPEES YEAR AGO

• JUNE-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 4.67 BILLION RUPEES VERSUS 3.99 BILLION RUPEES YEAR AGO

Further company coverage: ERIS.NS

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** Shares of pharmaceutical firm Eris Lifesciences Ltd ERIS.NS rise as much as 2.2% to 744.3 rupees, highest since Nov. 2

** HDFC Mutual Fund bought 829,618 shares in a bulk deal on Tuesday

** If gains hold, stock will log fourth straight session of gains

** Relative strength index (RSI) above 70, indicating stock is overbought

** Stock trading above its 50-, 100-, and 200-day moving averages since June 20, suggesting bullish trend

** Average rating of ten analysts covering stock equivalent to 'buy'; median PT is 785 rupees - Refinitiv data

** Stock last up ~14% YTD

(Reporting by Biplob Kumar Das in Bengaluru)

(([email protected]))

** Shares of Eris Lifesciences ERIS.NS up as much as 3.92% at 733.7 rupees, their highest since Nov. 3

** Stock on track for third consecutive session of gains if trends hold

** HDFC Mutual Fund bought 1.35 mln shares of co via bulk deal on Thursday - NSE data

** Avg rating of 10 firms close to equivalent of "strong buy;" median PT is 785 rupees - Refinitiv data

** About 154,000 shares change hands as of 12:05 p.m. IST, 3.1x the 30-day average

** Including session's gains, stock up ~12% YTD

(Reporting by Manvi Pant in Bengaluru)

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May 17 (Reuters) - Eris Lifesciences Ltd ERIS.NS:

• PROPOSE TO DEMERGE DOMESTIC FORMULATIONS BUSINESS OF OAKNET AND AMALGAMATE IT WITH CO, EFFECTIVE APRIL 1, 2024

• COMMENCED OPERATIONAL INTEGRATION OF BUSINESSES; EXPECTED TO BE COMPLETED BY END OF JUNE 2023

• IN-SOURCED MANUFACTURING OF DERMATOLOGY FORMULATIONS AT GUJARAT FACILITY TARGETING FROM JAN 2024

Source text for Eikon: ID:nBSE7nbL3S

Further company coverage: ERIS.NS

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BENGALURU, April 11 (Reuters) - India's Glenmark Pharmaceuticals Ltd GLEN.NS is considering selling a majority of the 82% stake it holds in Glenmark Life Sciences Ltd GLEM.NS as it looks to lower its debt load, the Mint business daily reported on Tuesday.

Glenmark Pharma has hired Kotak Mahindra Capital Co Ltd to oversee the sale of its stake in Glenmark Life and has contacted buyout funds to gauge interest, Mint reported, citing two people familiar with the matter.

Glenmark Pharma, Glenmark Life, which makes active pharmaceuticals ingredients (APIs) for drugs, and Kotak did not immediately respond to Reuters' request for comment.

Glenmark Life had a market valuation of 50.13 billion rupees ($611 million) as of the stock's closing price on Monday, which values Glenmark Pharma's stake at 41.1 billion rupees.

Glenmark Pharma's net debt was 26.15 billion rupees as of December 2022, an increase from 21.5 billion rupees in the year-ago period.

It has been aiming to reduce its debt, including through the sale of some dermatology brands to Eris Lifesciences ERIS.NS for 3.40 billion rupees in January.

Glenmark Pharma had first explored selling a stake in its API business in 2019 but ultimately opted to spin off and list Glenmark Life Sciences in 2021.

Besides to lower its debt, the sale is also necessary as Glenmark Pharma has until August 2024 to cut its stake to 75% to meet Indian regulatory norms on promoter holdings, Mint reported.

Glenmark Pharma's shares jumped as much as 1.6% to 495.45 rupees, their highest since Feb. 11, 2022. Glenmark Life's shares were down about 1% at 404 rupees in midday trading.

($1 = 82.0470 Indian rupees)

(Reporting by Navamya Ganesh Acharya; Editing by Sonia Cheema and Savio Dsouza)

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