Eris Lifesciences to acquire balance 30 pc stake in Swiss Parenterals

New Delhi, Nov 25 (PTI) Eris Lifesciences on Tuesday said its board has approved the acquisition of the remaining 30 pc stake in its subsidiary Swiss Parenterals.

The proposed transaction will be effected as a share swap, through a preferential issuance of the company's shares to seller Naishadh Shah, thereby making him a shareholder and an integral part of the company's senior management team with long-term alignment, the Mumbai-based firm said in a statement.

"On behalf of the shareholders of Eris, I am delighted to welcome Naishadh Shah to the community of Erisians. I am also happy to share that we propose to designate him as the Managing Director of Swiss Parenterals," Eris Lifesciences Chairman and Managing Director Amit Bakshi said.

FY27 promises to be a breakout year for the company's international business, and Naishadh's continued leadership and stewardship will be pivotal to its growth, he added.

Shares of Eris Lifesciences were trading 0.99 per cent down at Rs 1,665.20 apiece on the BSE. PTI MSS SHW