Latest news with #KrishnakumarVaidyanathan
Time of India
3 days ago
- Business
- Time of India
Eris Lifesciences reports 41% year-on-year rise in net profit in Q1
Eris Lifesciences , a leading branded formulations manufacturing company, reported a 41% year-on-year increase in net profit for the first quarter to Rs 125 crore, while revenue for the period stood at Rs 773 crore, an increase of 7.4% from the corresponding period last year. EBITDA for the first quarter stood at Rs 277 crore, up 11% YoY, with 36% EBITDA margin, the company said in a statement. 'Our domestic branded formulations (DBF) business has delivered a yoy growth of 11% which is over 40% ahead of market growth,' said Amit Bakshi, Chairman & Managing Director of Eris Lifesciences. 'Our thesis of reorienting our DBF portfolio to high-growth segments has started delivering results. We are well positioned to ensure continuity of supply in the RHI penfill segment given the exit of the innovator,' he said. The company created value in its acquired Biocon business which posted a Q1 operating margin of 30%, up from 19% at the time of acquisition. 'Our international CDMO business is well on track to scale up in Western Europe with several marquee customers already signed up,' said Krishnakumar Vaidyanathan, Executive Director & Chief Operating Officer. Speaking to ET, he said: 'We have outlined an aspiration that we would like to double our international business in the next three years. So, if that happens, then I think in three years from now, we will probably be getting about 15% of revenues from international. So, it will still be 85% domestic.' The company's net debt stood at Rs 2,317 crore as on June end. 'We have guided to a target net debt of Rs 1,800 crores by the end of this year,' said Vaidyanathan. 'Right now, we are well on track to get there.' 'The next three years will be very noteworthy from an EPS acceleration and ROCE improvement standpoint as well,' he added.
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Business Standard
3 days ago
- Business
- Business Standard
Eris Lifesciences to target insulin, semaglutide mkt opportunities in FY26
Ahmedabad-based Eris Lifesciences is looking to target opportunities in the nearly ₹5,000-crore Indian insulin market after Danish drugmaker Novo Nordisk announced a withdrawal of its insulin products in April this year. For Q1FY26, Eris Lifesciences recorded a 40 per cent year-on-year (Y-o-Y) rise in consolidated profit after tax (PAT) to ₹125 crore. Revenue rose to ₹773 crore during the June quarter against ₹720 crore in the year-ago period. 'We expect that Novo's cartridge inventory in the market will run out by October. So this market opportunity is something that one can start monetising from the November-December time frame,' the company's executive director and chief executive officer (CEO) Krishnakumar Vaidyanathan told Business Standard. He added that the timing fits Eris' plans as its Bhopal unit's cartridge filling capability will start getting operational from January. Vial manufacturing has already been commissioned at the Bhopal unit, with the company creating a strategic stock of insulins. This comes at a time when Eris already is the largest domestic player in insulin. The company had last year acquired the India formulations business of Biocon Biologics last year, including established insulin brands Basalog and Insugen. 'Before the Biocon deal, we had a couple of homegrown insulin brands in the market, which did a combined ₹60 crore in revenue last year. Basalog and Insugen had combined revenues of ₹200 crore at the time of acquisition,' he said. He added that with this, the company's insulin franchise has become really large with a 10 per cent market share. Eris is also among the prominent drugmakers looking to roll out generic versions of blockbuster molecule semaglutide once its patent expires around March next year. Semaglutide is a GLP-1 (glucagon-like peptide 1) receptor agonist that is used as an active pharmaceutical ingredient in medications for obesity management and Type-II diabetes. According to Eris' investor presentation for the June quarter of the financial year 2025-26 (Q1FY26), the company is on track to be among the first launches in India in March 2026. The company has initiated validation of synthetic semaglutide cartridges at its European Union (EU)-approved AMD injectables site. 'We are also planning the validation of the recombinant semaglutide in our Bhopal plant later this year,' he added. As far as the go-to market is concerned, the company said it is already in a strong position because of its dominant position in insulins and prior presence in the GLP market with the launch of Liraglutide in September last year.
Economic Times
3 days ago
- Business
- Economic Times
Eris Lifesciences eyes ‘good' share in semaglutide generics, says COO
Mr. Krishnakumar Vaidyanathan, Executive Director & Chief Operating Officer Eris Lifesciences looks to leverage its experience in integrated diabetes portfolio to take a lead among the first wave of generic semaglutide anti-diabetic and weight-loss drugs to hit the market early next year, a top official said. The company is looking at a 'good' share of the market, Krishnakumar Vaidyanathan, executive director and chief operating officer of Eris Lifesciences, told ET in an interaction. Semaglutide is the active ingredient in Novo Nordisk's blockbuster drugs Wegovy and Ozempic. Its patent in India will expire in March 2026. 'We are gearing up to be among the first to enter the market post loss of exclusivity,' Vaidyanathan said. 'We expect the overall market for GLP-1 at the end of the first 12 months (after the loss of exclusivity) to be at least 10 million units… And we expect to get a good share of the market.' Semaglutide is a glucagon-like peptide-1 (GLP-1) receptor agonist. Eris Lifesciences' existing diabetes portfolio includes orals, insulin and GLP-1 in the form of liraglutide. Its network of field representatives, patient connect and service platform in this space gives the firm an advantage over others, Vaidyanathan said. 'We do this day in and day out because of insulin. That gives us the confidence that we'll be able to step this up for GLP-1 as well.'Globally, the GLP-1 market is dominated by Eli Lilly and Novo Nordisk, which are also the two biggest insulin companies in the world. 'Being successful and big in the insulin market provides a huge tailwind when it comes to selling GLPs,' Vaidyanathan said. 'We have combined service with technology and product to create a winning combination in insulin and GLP therapy entry is not any different, which also requires a lot of patient education over and above the service on using the pens,' he said. 'We have an integrated diabetes portfolio because we currently sell GLP-1 in the form of liraglutide.' Dr Reddy's Labs, Sun Pharmaceutical Industries, Cipla, Mankind Pharma, Torrent Pharmaceuticals, and Zydus Lifesciences are also among Indian drugmakers readying to launch generic semaglutide next year. Eris Lifesciences launched liraglutide, a once-a-week GLP-1 product, last September. 'We have taken very good market shares in all the other LOE (loss of exclusivity) opportunities that we have seen in diabetes,' Vaidyanathan said. 'We have taken market ranks of 1 to 5 in each one without exception – vildagliptin, sitagliptin, linagliptin, dapagliflozin and empagliflozin. That gives us the confidence that we should be getting a fair share of the market.' Vishal Manchanda, pharma analyst at brokerage Systematix Group, said its full portfolio of anti-diabetes drugs to offer to diabetologist, spanning all oral and injectable options, should give Eris Lifesciences 'a strong positioning in a market where the large pharma majors like Sun, Lupin, Dr Reddy's, Cipla, Mankind and Zydus come in with their dominant brand presence.'
Mint
3 days ago
- Business
- Mint
Eris Lifesciences betting on insulin expertise to boost its GLP-1 play
Eris Lifesciences is gearing up to take advantage of India's booming diabetes-obesity market. The Ahmedabad-based drugmaker stands to gain in the country's human insulin market as innovator Novo Nordisk vacates, and it is betting on its insulin platform to grab a significant share in the anti-obesity market. 'We have a very successful insulin business with close to 10% market share in the country now. And any company that sells insulin well has been able to do GLP-1 very well," CEO Krishnakumar Vaidyanathan toldMintin an interview. Danish drugmaker Novo Nordisk, which is the innovator of blockbuster anti-obesity drugs Ozempic and Wegovy, is also a market leader in insulin, with an over 50% market share in India. The market for weight loss drugs in India was over ₹600 crore in July 2025. Also Read: Piramal Pharma's loss narrows to Rs82 crore in June quarter Vaidyanathan explained that the insulin business involves building a patient service and care platform, which goes beyond just selling the product. '...there is active support from Eris' side at the patient's residence…given this insulin platform, we are very confident that we'll be able to make a success of GLP-1 as well, because it will ride on this platform," he said. Eris says they have a 'one of a kind" patient service model where they train patients to use insulin, while Novo has a service model as well and a wide network of physicians. GLP-1s or glucagon-like peptide-1 agonists are a class of drugs used to treat type-2 diabetes and obesity, which mimic the GLP-1 hormone produced in the gut to regulate blood sugar and appetite. Eris plans to rely on third parties for Active Pharmaceutical Ingredients (APIs), but will eventually bring regular semaglutide in-house. It will depend on third parties for the synthetic semaglutide API. Eris launched liraglutide, a GLP-1, in India last year and plans to be among the first wave of launches for generic semaglutide, which goes off patent in March 2026. It is not the only one. India's top drugmakers, including Dr Reddy's,Cipla, Sun Pharma,Zydus Lifesciences, and Natco, are gearing up to launch the generic semaglutide next year. The firm also has a pipeline of standalone insulin analogues and insulin analogues with GLP-1 combinations in preclinical and clinical trials. Insulin dominance Earlier this year, Novo Nordisk announced the rollback of pen-filled versions of its best-selling Human Mixtard insulin. While the vial versions will still be sold, this opens up a huge market for domestic players to fill in the country's ₹4,500 crore insulin market. Eris acquired the Insugen and Basalog brands fromBiocon Biologics last year as part of a larger deal to acquire its branded formulations business. It also sells Xsulin through a joint venture with MJ Biopharma. Also Read: Jashvik Capital acquires stake in pharma software firm for ₹400 crore Apart from innovators Novo Nordisk andSanofi, which dominate the Indian insulin market, Lupin, which acquired Eli Lilly's Huminsulin brand last year, is a key domestic player. 'So this whole democratisation of insulins and GLP-1s is something that is going to happen. The ball has been set rolling," said Vaidyanathan. Eris expects to see increased sales from recombinant human insulin (RHI) pen products in November and December as innovator inventory runs out. The company is also planning to in-source its insulin and GLP-1 production at a later stage. The company commenced production of insulin vials at its Bhopal facility in Q1FY26, and expects to start cartridge production by Q4FY26. 'Our strategy has always been that, once we deem that a product is big and strategically important, then we bring it in-house," said Vaidyanathan. Eris Lifesciences reported its Q1FY26 results on Tuesday, with its consolidated revenue up 7.4% year-on-year to ₹773 crore. Its Ebitda for the quarter stood at ₹277 crore, up 11% YoY with a 36% Ebitda margin. Net profit was up 41% to ₹125 crore. The drugmaker is focused on increasing profitability and paring down debt in FY26. Also Read: Sun Pharma net profit falls on US antitrust settlement, drug impairment costs 'All of this will be accompanied by a significant acceleration in the EPS (earnings per share) and the return ratios," said Vaidyanathan. Its EPS in Q1 was ₹9.2, and the company expects a 50% EPS growth in FY26. The company's net debt in Q1FY26 was ₹2,317 crore, and it aims to reduce debt to ₹1,800 crore by the end of the year.
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Business Standard
3 days ago
- Business
- Business Standard
Eris Lifesciences to tap Rs 5,000-cr insulin and semaglutide market in FY26
Ahmedabad-based Eris Lifesciences is looking to tap opportunities in the nearly Rs 5,000-crore Indian insulin market after Danish drugmaker Novo Nordisk announced the withdrawal of its insulin products from the market in April this year. 'We expect that Novo's cartridge inventory in the market will run out by October 2025. So this market opportunity is something that one can start monetising from the November–December time frame,' the company's executive director and chief executive officer (CEO), Krishnakumar Vaidyanathan, told Business Standard. He added that the timing fits Eris' plans, as the cartridge filling capability of its Bhopal unit will start becoming operational from January. Vial manufacturing has already been commissioned at the unit, with the company creating a strategic stock of insulins. This comes at a time when Eris is already the largest domestic player in insulins. The company had acquired the India formulations business of Biocon Biologics last year — including established insulin brands Basalog and Insugen. 'Before the Biocon deal, we had a couple of homegrown insulin brands in the market, which did a combined Rs 60 crore in revenue last year. Basalog and Insugen had combined revenues of Rs 200 crore at the time of acquisition,' he said. He added that, with this, the company's insulin franchise has become significantly larger, with a 10 per cent market share. Eris is also among the prominent drugmakers looking to roll out generic versions of the blockbuster molecule semaglutide once its patent expires around March next year. Semaglutide is a GLP-1 (glucagon-like peptide-1) receptor agonist used as an active pharmaceutical ingredient in medications for obesity management and Type-II diabetes. According to Eris' investor presentation for the June quarter of 2025–26 (Q1FY26), the company is on track to be among the first launches in India in March 2026. The company has initiated validation of synthetic semaglutide cartridges at its European Union (EU)-approved AMD injectables site. 'We are also planning the validation of the recombinant semaglutide in our Bhopal plant later this year,' he added. As far as the go-to-market strategy is concerned, the company said it is already in a strong position because of its dominant presence in insulins and prior presence in the GLP market with the launch of liraglutide in September last year. For Q1FY26, Eris Lifesciences recorded a 40 per cent year-on-year (Y-o-Y) rise in consolidated profit after tax (PAT) to Rs 125 crore. Revenue rose to Rs 773 crore during the June quarter against Rs 720 crore in the year-ago period.
