Eris Lifesciences acquires diabetes drug trademark Zomelis from Novartis AG for India for Rs 93 crore
New Delhi: Drug firm Eris Lifesciences 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.