Biopharmaceutical company Biocon Biologics will sell its Indian branded formulations businesses to Eris Lifesciences in a deal worth 12.42 billion rupees ($150 million) The deal includes the acquisition of insulin brands Basalog and Insugen which Eris said will help its diabetes treatment franchise reach 10 billion.The purchase of the branded business will also mark the pharmaceutical firm's entry into the oncology and critical care segments, Eris added.