Eris Life acquires trademark Zomelis from Novartis AG

Eris Lifesciences Limited has acquired the trademark ‘Zomelis’ and its associated trademarks from Switzerland-based Novartis AG for Indian pharmaceuticals market with effect from December 10, 2019.

The trademark has been used for marketing Vildagliptin formulations, an oral anti-diabetic drug, which has been promoted in India for close to 10 years. The consideration involved in this trademark acquisition is US$13 million. The trademark, along with its applicable associate marks, enjoy sales on a moving annual total (MAT) basis of Rs. 63.96 crores.

One of the Indian patents pertaining to Vildagliptin, namely Patent No. 212815 of the Patent holder, shall expire in the month of December 2019. The assignment of Zomelis trademark, which enjoys aforementioned patent exclusivity, is expected to provide a head-start to Eris vis-a-vis other branded generic players after the scheduled expiry of the aforementioned patent.

Zomelis is a medicine used to treat type 2 diabetes mellitus. It is used together with a healthy diet and regular exercise to control blood sugar levels. This helps to prevent serious complications of diabetes like kidney damage and blindness.

Eris Lifesciences Limited is engaged in manufacturing, marketing, and selling of generics within the chronic and acute categories of the Indian Pharmaceutical Market.

On Tuesday, the stock of Eris Lifesciences closed at Rs. 433.90. On Wednesday, it opened at Rs. 438.85 and surged by 3.1 per cent to Rs. 447.45 in the early morning session.