Branded formulations drive Eris Lifesciences’ Q2 PAT up by 10% to Rs 118 cr

With its branded formulations business outperforming the market growth by nearly 50 per cent since pre-pandemic times, Eris Lifesciences Ltd has posted a 10 per cent growth in its profit after tax (PAT) at Rs 118.3 crore for the second quarter ended September 30, 2021.

The pharmaceutical major’s revenue from operations also grew by nine per cent to Rs 359.67 crore on a year-on-year (YoY) basis in Q2 of FY 2021-22, up from Rs 329.99 crore in Q2 of FY 2020-21.

According to Amit Bakshi, Chairman & Managing Director of Eris Lifesciences Ltd., the company’s branded formulations business has outperformed the market growth by nearly 50 per cent since pre-pandemic times, driven by strong growths in our cardio-metabolic, vitamins/minerals/nutraceuticals (VMN) and CNS therapies. “Our focus on building strong brands in fast growing therapies coupled with several patent expiration opportunities will enable us to sustain this growth trajectory,” Bakshi added.

Currently, nine of its leading 15 mother brands are ranked among the top-5 within their respective segments. Going forward, the momentum of these mother brands is set to sustain even as diabetes detection and new product launches are set to add to the company’s continued growth, said Krishnakumar V, Executive Director and Chief Operating Officer of Eris Lifesciences Ltd.

While on one hand, its portfolio of power brands in cardio-metabolic and VMN continues to drive our growth, the company’s latest-generation diabetes products Zomelis and Gluxit continue to enjoy number one market ranks and robust growth. Already, of the 10 new product launches planned for FY’22, Eris has so far launched four products in the first half of the year.

“We have more launches planned in the second half of FY’22 in the areas of Cardio-Metabolic, Wellness and Women’s Health. We have an exciting period of organic growth coming in the next 4–5 years, driven by multiple factors like consolidation of power brands franchise, new launch pipeline, expansion of physician coverage and therapeutic diversification. We continue to look for high-return in-licensing and acquisition opportunities, in order to supplement our organic growth initiatives,” added Krishnakumar.

During the quarter, branded formulations revenue grew by 7.3 per cent YoY to Rs 328.3 crore. Overall, the top four segments including diabetes, cardio-metabolic, VMN and CNS contribute 86 per cent to its overall revenue.

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