Tag: Biocon

NEW DELHI: Biocon Biologics (BBL) is divesting its dermatology and nephrology branded formulations business to Eris Lifesciences for Rs 366 crore. The business, which includes its legacy small molecule brands, will be sold as a slump sale, a company statement said. The deal represents an accretive multiple of 4x on revenues and 22x on EBITDA.Post-deal close, over 120 employees of the two business units are expected to transition to Eris, ensuring continuity for both employees and patients, it added.The divestiture is expected to close by the end of...