Eris Lifesciences to acquire full ownership in KINEDEX

Mumbai : Eris Lifesciences has executed a share purchase agreement with Rajesh Dhuria (one of the founders & promoters of KINEDEX) with the intent to have full ownership and control of the said subsidiary (KINEDEX) and to make KINEDEX a wholly-owned subsidiary i.e. by way of purchase of 32,507 equity shares of face value of Rs 10 each (equivalent to around 17.81%).

Prior to this transaction, the Company held around 82.19% shareholding in KINEDEX. Post completion of this transaction, the total holding of the Company shall stand at 100%. Eris Lifesciences is engaged in manufacturing, marketing and selling of branded generics within the chronic and acute categories of the Indian Pharmaceutical Market.