Ahmedabad: Eris Lifesciences Ltd, a speciality pharma player, has announced its intention to acquire the remaining 30% stake in its injectables subsidiary Swiss Parenterals Ltd (SPL) for ₹423.3 crore, making it a wholly-owned subsidiary of the company.
The decision was taken at a board meeting held on November 24, where the acquisition was approved. Instead of paying for the acquisition in cash, the company will issue 23 lakh new shares to Naishadh Shah, a director at Swiss Parenterals, who is selling the stake.
The move is intended to help Eris take complete control of the company, helping it improve its cost efficiencies, strengthening the company’s operational control and sharpen operational oversight. The transaction is expected to close by 31 March 2026, subject to regulatory approvals. Eris has gradually increased its stake in Swiss Parenterals Ltd, paying about ₹875 crore for its 70% stake in 2024.
Swiss Parenterals manufactures and supplies parenteral products to over 80 countries, registering a turnover of ₹351 crore in FY25 as against ₹283 crore in FY24. For Eris, this acquisition offers an opportunity to expand its domestic presence and its product portfolio, while also expanding it overseas in emerging markets through its strong distribution networks and expansive regulatory expertise.
Following the news, Eris Lifesciences’ share price is down 2.52% to ₹1641.60 per share. The Ahmedabad-based branded formulations company has delivered good returns so far, with its shares rising about 23.5% on a year-to-date basis.
