Claris sells global generic injectables business to Baxter for $625 mn

Claris sells global generic injectables business to Baxter for $625 mn

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City-based pharma player, Claris Lifesciences Ltd, said the company has completed the sale of its Global Generic Injectables Business to Baxter International Inc (USA) for an enterprise value of $625 million.

The company will discuss with its advisors and identify the most efficient method of transferring a significant majority of the net proceeds to its shareholder. The company expects to communicate the process before October 15, 2017.

Arjun Handa, Vice-Chairman and MD of Claris Lifesciences Ltd said, “Today, the Claris products and business model’s uniqueness has a significant potential to deliver strong growth. We believe Baxter is the best partner suited to take this platform forward and drive the next phase of growth.”

[“Source-thehindubusinessline”]