Shares of Eris Lifesciences Ltd climbed 4.19% to ₹1,458 in early trade on April 23 after Novo Nordisk reportedly announced its decision to phase out Human Mixtard—India’s largest-selling insulin brand, as per Economic Times. The stock touched an intraday high of ₹1,469.90, marking a strong uptrend fueled by investor optimism around the emerging market opportunity.
Novo Nordisk, which controls a significant portion of the Indian insulin market, has confirmed it will gradually discontinue Human Mixtard and other legacy insulin products such as Actrapid, Insulatard, Levemir, and Xultophy. This strategic global shift is aimed at focusing on newer, more profitable therapies like Ozempic and Wegovy.
The Economic Times reported that the Human Mixtard brand alone is worth ₹800 crore in India, while the overall insulin market stands at nearly ₹5,000 crore. Analysts estimate that the opportunity size for Indian players is significant, pegging it at ₹400 crore in the near term, with a wider addressable market opening up thereafter.
As Novo Nordisk exits this legacy segment, Eris Lifesciences, along with Lupin and Biocon, stands to benefit. With limited competition in this segment and capacity already in place, these companies are expected to step in to fill the demand gap.
Biocon Biologics Chairperson Kiran Mazumdar-Shaw confirmed in a public post that “Insugen will fill this gap and prevent denial of insulin therapy to diabetics,” further strengthening investor confidence in domestic pharma players.
Stock Snapshot:
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Current Price: ₹1,458.00
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Previous Close: ₹1,399.40
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Day’s Range: ₹1,405.50 – ₹1,469.90
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Market Cap: ₹198.78 billion
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P/E Ratio: 60.31
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Dividend Yield: 0.50%
As of now, Eris remains one of the few players in the fray to capture this insulin void, positioning it for strong future earnings in the diabetes care segment.
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