India, Dec. 5 -- Gujarat based Eris Lifescienceshas announced the acquisition of the trademark Zomelis (for Vildagliptin based formulations) and its associated trademarks from Novartis AG, Switzerlandfor a consideration of $13 million. Zomelis is used in the treatment of type 2 diabetes and comes under a new class of anti-diabetic drugs known as DPP 4 inhibitors. The Company will start selling the product from December 10 in the Indian market. Eris is among the top 10 players in the anti-diabetes drugs segment in the Indian Pharmaceutical Market (IPM).

Amit Bakshi,Chairman and Managing Director, Eris Lifesciences, said, "The acquisition of Zomelis will help us strengthen our position in the diabetes care market in India. Zomelis is a str...