to Shareholders
One more year has gone by and we have turned 15 years old. We
have made rapid strides since our humble beginnings to nd
metamorphosize into India's 22 largest domestic formulations company. With the Power of
Empathy and the Truth of Science as our shining beacons, we continue to scale greater
heights in our quest to enable patients towards better health and lifestyles.
The biggest area of focus for FY 22 has been to expand the business and create a growth
platform for the next 10 years. The era of patent expirations and exciting new product
launches in Oral Anti-Diabetes begins in FY 23 and we expect to gain prominent market
positions in the new product launches. We entered the INR 3,500 crore market for Insulin
and Analogues in Jan 2022 through an equity partnership with MJ Biopharm in Jan 2022. This
initiative further underscores our commitment as a serious stakeholder in managing the
diabetes burden of the nation. We launched Xsulin, our brand of human insulin in Feb 2022.
We expect to follow this up with Glargine, a key insulin analog in CY 2023 and
Liraglutide, a GLP1 Agonist in CY 2024. Our Oral Anti-Diabetes and Insulin franchises were
further strengthened in FY 22 by our technology solutions consisting of Blood Glucometers,
Continuous Glucose Monitors and HbA1C Monitors.
We entered the INR 11,000+ crore Dermatology segment in May 2022 through the
acquisition of a 100% equity stake in Oaknet Healthcare. Eris' Specialty Franchise gets a
signi cant impetus with this acquisition. Oaknet enjoys near 100% coverage of ~11,000
Dermatologists across India with a 60% penetration. With a specialty component of 43% and
a strong platform in Medical Dermatology, Oaknet provides us with a robust growth platform
in Dermatology as well as Cosmetology. In line with our Strides and Zomelis acquisitions,
we are con dent that the Oaknet transaction will create long-term value for our
shareholders.
We expanded our presence in Women's Healthcare by entering the ~INR 650 crore
Dydrogesterone market growing at over 50% p.a. through the launch of our brand Drolute in
Q4 of FY 22. This underscores our commitment to invest and grow in Women's Health as a key
new therapy for Eris.
With all these expansionary initiatives, Eris is now present in 87% of the INR 55,000
crore Indian Chronic Care Market, with a leading
| With warm regards, |
| Amit Bakshi |
| Chairman and Managing Director |