Baxter Acquires Claris Injectables for $625 million
Baxter International has completed its previously announced acquisition of Claris Injectables, a generic injectables pharmaceutical company based in Ahmedabad, India, for approximately $625 million. Claris Injectables is a wholly owned subsidiary of Claris Lifesciences.
Annual sales for Claris Injectables were approximately $112 million in 2016. With this acquisition, Baxter gains access to the Claris Injectables product portfolio and pipeline as well as three manufacturing plants in Ahmedabad, India.
Baxter plans to invest in increasing Claris Injectables’ capacity and capabilities, including adding new aseptic manufacturing and lyophilization; technology platforms in areas such as cytotoxics, aseptic development and complex formulations; and an expanded research and development footprint.
The acquisition is anticipated to add more than 50 products to Baxter’s portfolio in 2017, almost 20 new products in the aggregate in 2018 and 2019, and 10-15 products per year beginning in 2020.
Source: Baxter International