"Our focus on building sustainable brands paid us rich dividends in FY'21 as prescriber preference shifted to established incumbent brands, following the drastic reduction of MR-Doctor interactions during the pandemic period. Our dominant positions in our core therapies enabled us to successfully launch multiple new products this year - Gluxit, ZACD, Zayo, Bricet and Rivalto, to name a few. We clocked a 15 per cent growth in MR productivity despite multiple disruptions on account of lockdowns. We have an exciting period of organic growth coming up in the next 3-4 years, driven by multiple factors," said Krishnakumar V, Executive Director & Chief Operating Officer of Eris Lifesciences
According to Krishnakumar, the company has adopted a three-pronged strategy.
"Firstly, we have a strong pipeline of new product launches, driven by upcoming patent expirations in the cardio metabolic segment. Secondly, our market standing in diabetes enabled us to take the lead in the management of post-Covid early onset diabetes (unmasking diabetes) – Gluxit and Zomelis are strategic products for us in this regard. Thirdly, we are expanding our coverage of cardiologists and consulting physicians by up to 50 per cent. We are making investments in technology in order to further improve our sales productivity. We continue to look for high-return in-licensing and acquisition opportunities, in order to supplement our organic growth initiatives," he added.
Among its portfolio, the cardio metabolic segment, which forms 59 per cent of Eris' revenue, grew 9.7 per cent in FY21, marginally outperforming its covered market which grew by 9.4 per cent. On the other hand, the Vitamins, Minerals and Nutrients (VMN) segment, which forms 20 per cent of its revenue, grew by 14.8 per cent in comparison with the covered market which grew by 8.6 per cent. Moreover, Eris' top-15 mother brands, which contribute nearly 80 per cent of its revenue, grew by 8.9 per cent during the year.
On the back of this, Eris Lifesciences posted a 20 per cent growth in its consolidated net profit for the full financial year 2020-21 at Rs 355.14 crore, up from Rs 296.51 crore in previous fiscal 2019-20. Its consolidated total income for FY21 grew by 12 per cent to Rs 1,220.57 crore, up from Rs 1,089.45 crore in FY20.
Meanwhile, commenting on the results, Amit Bakshi, Chairman & Managing Director of Eris Lifesciences Ltd, said, "FY21 was a game changer for us during which we have registered robust improvement across all business and financial metrics. We were able to harness the power of our fundamental business pillars - leadership brands in chronic superspecialty, a strong cash flow generating business model, a debt-free balance sheet, and our consistent focus on operational excellence - to successfully navigate what has been one of the most challenging years ever."
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