Eris Lifesciences Share Price Target Forecast 2022, 2023, 2025, 2030

28 DECEMBER 2021

Motilal Oswal recommends Eris Lifesciences with a target price of Rs 870.

In a research note dated December 27, 2021, Motilal Oswal suggested a buy rating on Eris Lifesciences with a target price of Rs 870.

With a BUY rating and a target price of INR870, we begin coverage on Eris Lifesciences (ERIS). ERIS has created a pure-play Branded Formulation company with a revenue of INR13b (12M ending Sep’21) in just 14 years (started in CY07). During FY16-21, its PAT nearly increased to INR3.5 billion. In terms of revenue, ERIS is among the top 25 Indian corporations.

ERIS is involved in the development, production, and marketing of branded pharma products in select Chronic treatments (the fastest growing firm in the Chronic category), such as Anti-Diabetes (AD; 37 percent of sales), Cardiac Care (31 percent of sales), and Vitamins/Minerals/Nutrients (VMNs; 23 percent of sales).

We expect ERIS’ earnings to grow at a 17 percent compound annual growth rate (CAGR) over FY21-24, compared to marginal growth in FY18-21, due to: a) increased scope of penetration of technically superior drugs in AD therapy (adding Insulin-analogs to the AD portfolio), b) efforts to improve the coverage of super-specialists/high-end consulting physicians across therapies, c) improved operating leverage on improved MR productivity, and d) increased in-house manufacturing.

Outlook

To arrive at our target price, we use a three-year industry average P/E multiple of 22x to 12M projected earnings, implying a 27 percent upside from present levels.

moneycontrol.com is the source for this information.


DECEMBER 6, 2021

Prabhudas Lilladher: Eris Lifesciences Share Price Target 2022; Buy for Rs 954

In its research report dated 06 December 2021, Prabhudas Lilladher suggested a buy rating on Eris Lifesciences with a target price of Rs 954.

Eris Lifesciences (ERIS) launched a joint venture with MJ Biopharma to enter the insulin and GLP1 agonist market in India. The 70:30 joint venture (in which ERIS maintains a 70% ownership) will primarily sell and distribute human and analogue insulin and GLP-1 agonists in India, as well as maybe additional biopharma products. The JV will entrust MJ Biopharma with the development, production, and distribution of these drugs.

Outlook

ERIS is able to stay ahead of the competition because to its timely capacity expansion plan and substantial contribution from older/sub-chronic goods, all of which are underpinned by minimal regulatory risk. We have not reaped any benefits or incurred any costs as a result of this joint venture. On 24x Sep 2023e EPS, we maintain our ‘Buy’ rating with a target price of Rs 954.

Moneycontrol.com is the source for this information.


DECEMBER 6TH, 2021

Eris Lifesciences anticipates a 10% market share in the insulin industry.

According to Amit Bakshi, chairman and managing director of Eris Lifesciences, the company will be able to capture 10% of the insulin market.

In addition, he predicts that the insulin market will increase in the next few years.

To commercialise insulin, the pharmaceutical business has formed a joint venture with MJ Biopharma.

CNBCTV18.com is the source of this information.


6 December, 2021

Eris Lifesciences’ stock rises 10% when the business forms a joint venture with MJ Biopharm.

Eris Lifesciences’ stock soared almost 10% in early trade today after the firm announced a joint venture with MJ Biopharma to enter the insulin market. The pharma stock has regained momentum after two days of slump. On the BSE, it began at Rs 732, up 3.73 percent from the previous close of Rs 705.70.

On the BSE, the midcap stock reached a high of Rs 773.4, up 9.59 percent. The stock is trading above the 5 and 200 day moving averages, but below the 20 day, 50 day, and 100 day moving averages.

The stock has increased by 38.57 percent in a year and by 26.69 percent since the start of this year. On the BSE, a total of 0.13 lakh shares of the company were traded, resulting in a transaction turnover of Rs 99.86 lakh.

On the BSE, the pharmaceutical company’s market capitalization increased to Rs 9,982 crore. On October 19, 2021, the stock reached a 52-week high of Rs 863.15, and on December 7, 2020, it reached a 52-week low of Rs 523.

The joint venture’s goal, according to the business, is to broaden the product range to include biotherapeutic solutions for cardiometabolic patients.

The joint venture will be 70 percent owned by Eris Lifesciences. It will primarily sell and distribute human and analogue insulin in India, including aspart, glargine, and lispro, as well as GLP-1 agonists and maybe additional biopharma medicines. MJ will be in charge of creating, manufacturing, and supplying the JV with these items.

It stated that the first product to be commercialised would be’recombinant human insulin,’ which would be offered in vials and cartridges.

The joint venture will introduce new biotherapeutic formulations when the supplier completes product development and commercialization.

“Through its joint venture with MJ Biopharma, Eris now bridges a major gap in its diabetes care portfolio, taking advantage of the market opportunity in human insulin, insulin analogues, and GLP1 agonists,” the firm stated.

Businesstoday.in is the source of this information.


31 October, 2021

Eris Lifesciences’ Q2 profit increased by 9.91 percent to Rs118.39 crore, owing to sustained revenue growth and operational margins.

On a consolidated basis, Eris Lifesciences Ltd reported an increase of 8.99 percent in total revenue for the September-21 quarter, to Rs 359.67 crore. On a sequential basis, sales increased by 2.98 percent to Rs 349.27 crore in the June-21 quarter.

Eris Lifesciences reported a 13.8 percent increase in top line revenue to Rs 709 crore in the first half of the financial year ending September 2021. The business works in a niche with very steady profitability.

On the heels of a fairly consistent operating margin over time, the consolidated profit tax (PAT) for the September-21 quarter increased 9.91 percent to Rs 118.39 crore. Despite the fact that raw material costs have remained largely stable over time, supply chain bottlenecks are nonetheless a common occurrence throughout the area. On a year-over-year basis, other costs increased by around 10%.

PAT increased by 11% in the next month. Net margin was 32.92 percent in the September-20 quarter, up from 32.64 percent a year before and better than NPM’s 30.54 percent in the June-21 quarter.

Indiainfoline.com is the source for this information.


30 JULY 2021

Eris Lifesciences is on the search for brands and product portfolios to buy.

Eris Lifesciences, located in Ahmedabad, has expressed interest in acquiring the brand and product portfolio. Cardiology, diabetes, vitamins, neurology, dermatology, and women’s health are among the therapeutic categories that have been nominated for purchase, according to the business.

“Opportunities are emerging, particularly from multinational corporations (MNCs) looking to shrink their portfolios from time to time. Even major domestic corporations exist. In an interview with Moneycontrol, V Krishnakumar, executive director and chief operating officer of Eris Lifesciences, stated, “We see that the deal is advancing, but it should be something that satisfies most of our standards.”

“It becomes an opportunistic bolt-on if it’s a portfolio that comes with two or three other things,” Krishnakumar added.

In 2017, Eris paid Rs 500 crore for Strides’ Indian branded formulation business.

Krishnakumar stated that the business expects a 15% revenue increase in FY12 due to ten new product releases. The firm introduced three goods in the first quarter and expects a lot of fresh product launches in the second half.

“We predict the Cardio, Metabolic, and Vitamins market to increase at a pace of 10-12 percent over the medium to long term,” says the report. By 200-300 basis points, we will exceed the market.”

The chronic sector accounts for over 85% of the company’s sales.

For the quarter ended June 30, Eris recorded a net profit of Rs 107 crore, up 20% year on year. In Q1FY22, revenue from operations was Rs 349 crore.

In Q1FY22, the chronic segment underperformed when compared to the acute sector. The acute section comprises antibiotics, gastro, and pain medications, whereas the chronic segment contains diabetes, hypertension, and neuro, which require patients to take tablets on a regular basis.

Krishnakumar believes that everything would be back to normal soon.

“The trend will revert to normal if there is no third wave or if the third wave is of reduced amplitude.” “The chronic therapy sector will eventually outgrow the acute therapy section,” Krishnakumar said.

productivity

Eris is one of the few pharmaceutical firms that reveal their marketing representative (MR) productivity per capita. It claimed it achieved a productivity of Rs 5 lakh per MR in Q1FY22.

While efficiency is an essential statistic for the organisation, Krishnakumar said there is a larger emphasis on product launches, line extensions, and brand promotion.

“Development is our major aim.” “As a logical result, productivity will occur,” Krishnakumar added.

“When markets are tight from a doctor’s visit standpoint, established brands have done quite well compared to lesser brands in both the acute and chronic categories.” “This is an inspiration for us since we’ve been there for 14 years and have created significant companies,” Krishnakumar added.

Eris also intends to build a formulation manufacturing plant in Gujarat, with a first-phase investment of Rs 120-130 crore. Eris now has a manufacturing plant in Guwahati, Assam.

Moneycontrol.com is the source for this information.


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