India’s Biocon to sell branded formulations business to Eris Lifesciences for $150 million

Biopharmaceutical company Biocon's unit Biocon Biologics will sell its Indian branded formulations to Eris Lifesciences in a deal worth 12.42 billion rupees ($150 million), the companies said in separate exchange filings on Thursday. The transaction is expected to close by April 15, 2024, Biocon said. As a part of the deal, it signed a 10-year supply agreement with Eris, it added.