Eris Lifesciences Limited (ELL) has announced that it will acquire the remaining 30% stake in Swiss Parenterals Limited (SPL) from Mr. Naishadh Shah, Director of SPL, for a total consideration of ₹423.30 crore.

ELL currently holds 70% of SPL, following its majority acquisition completed last year.

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The consideration is proposed to be discharged through a preferential allotment of equity shares of Eris Lifesciences to Mr. Shah, subject to applicable regulatory approvals, including those from stock exchanges.

Once completed, the transaction will make Swiss Parenterals a wholly owned subsidiary of Eris Lifesciences, further consolidating Eris’ presence in the sterile injectables market across emerging geographies.

Parties Involved

• Acquirer: Eris Lifesciences Limited

• Seller: Mr. Naishadh Shah

• Target: Swiss Parenterals Limited

• Legal Counsel to Acquirer: Shardul Amarchand Mangaldas & Co

• Legal Counsel to Seller and Target: Cyril Amarchand Mangaldas

Legal Advisory

Shardul Amarchand Mangaldas & Co – Counsel to Eris Lifesciences

Core Transaction Team

• Nivedita Tiwari, Partner

• Devesh Pandey, Partner

• Kuhuk Jain, Principal Associate

• Anushka Ganguli, Associate

• Sourav Paul, Associate

Tax Advisory Team

• Gouri Puri, Partner

• Rahul Yadav, Partner

• Nimish Malpani, Principal Associate

SAM advised on the transaction structure, drafting and negotiation of the share purchase and subscription documents, and tax implications associated with the preferential allotment mechanism.

Cyril Amarchand Mangaldas – Counsel to Swiss Parenterals & Mr. Naishadh Shah

CAM advised the seller and the target company, including:

• reviewing and negotiating the share purchase and subscription agreement;

• advising on preferential allotment documentation;

• facilitating execution and assisting with closing formalities.

Deal Team

• Ravi Shah, Partner (Lead)

• Arushi Bindal, Senior Associate

• Aesha Shah, Associate

Key Transaction Highlights

• Eris Lifesciences to acquire 100% ownership of Swiss Parenterals upon completion.

• Consideration to be settled via issuance of ELL shares on a preferential basis.

• Transaction subject to stock exchange and regulatory approvals.

• Follows Eris’ earlier majority acquisition of Swiss Parenterals in 2024.

Strategic Significance

Strengthening Eris’ Injectables Portfolio

Swiss Parenterals is a key player in sterile injectables, with exports across 80+ emerging markets, including Africa, Asia-Pacific and Latin America.
Full ownership enables Eris to:

• integrate manufacturing capabilities,

• expand global market access,

• streamline decision-making, and

• accelerate scale-up of its injectables business.

Why It Matters

The acquisition marks a significant step in Eris’ long-term strategy to diversify beyond its core chronic therapies and deepen its footprint in high-growth specialty pharmaceuticals.
The involvement of two major Indian law firms — SAM and CAM — highlights the transaction’s regulatory complexity, including elements of:

• preferential allotment,

• takeover structuring,

• tax considerations,

• corporate governance, and

• regulatory compliance for listed entities.

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Disclaimer

This article is for informational purposes only and does not constitute legal or financial advice. Readers should consult professionals before making decisions