India, Nov. 25 -- image credit- shutterstock

Mumbai-based pharma firm Eris Lifesciences has announced that its Board of Directors has approved the acquisition of the balance 30% stake in Swiss Parenterals Limited, a subsidiary.

The proposed transaction will be effected as a share swap, i.e. through a preferential issuance of Eris equity shares to the seller Naishadh Shah, thereby making him a Top-10 shareholder of Eris and an integral part of Eris' senior management team with long-term alignment.

Commenting on the acquisition, Amit Bakshi, Chairman & Managing Director of Eris Lifesciences, said,"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 p...