In one of the biggest deals
involving a domestic pharma major, US based Baxter International Inc. entered
into a definitive agreement to acquire Claris Injectables, a wholly owned
subsidiary of Claris Lifesciences, for approximately $625 Million (Rs. 4,237 crore).
Claris Injectables will add proven
capabilities in production of essential generic injectable medicines, such as anesthesia
and analgesics, renal, anti-infective and critical care in a variety of
presentations including bags, vials and ampoules. The Claris Injectables
acquisition will expand Baxter’s presence in the fast growing, global generic
injectable pharmaceuticals space and accelerate growth trajectory with
high-value, essential medicines that will benefit patients worldwide.
The capabilities gained with Claris
Injectables will augment and complement the company’s differentiated
technologies, expertise and extensive presence in the hospital channel to
create a pathway for Baxter to become a global leader in generic Injectables. In
2016, Claris Injectables is expected to deliver annual global revenues in
excess of $100 million. Global revenues for Claris Injectables business have
increased by double-digits annually over the last several years driven by new
product launches and geographic expansion.
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