Eris Lifesciences acquires trademark Zomelis from Novartis for India market
This is the first innovator pharmaceutical product trademark acquisition by Eris Eris Lifesciences has announced the acquisition of the trademark Zomelis (for Vildagliptin based formulations) and its associated trademarks from Novartis AG, Switzerland for a consideration of USD 13 million. Zomelis is used in the treatment of type 2 diabetes and comes under a new class of anti-diabetic drugs known as DPP 4 inhibitors. The Company will start selling the product from December 10 in the Indian market. Eris is among the top 10 players** in the anti-diabetes drugs segment in the Indian Pharmaceutical Market (IPM). Amit Bakshi, Chairman and Managing Director, Eris Lifesciences, said,
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