Eris Lifesciences to acquire ninederma brands from Dr Reddy’s for $34m.

Eris Lifesciences, a pharmaceutical company with a pure-play domestic branded formulations business model, agreed to acquire ninederma brands from Dr Reddy’s, a pharmaceutical company, for $34m. “We aspire to break into the top 5 in India. Today’s announcement is in line with our stated intention of pursuing a strategy that involves growing brands organically combined with acquisitions that are a strategic fit and divestment of non-core brands. This deal is a further step towards consolidating our core and helping us deliver focused play in India,” MV Ramana, Dr Reddy’s CEO.