Baxter to Acquire Claris Injectables in $625-Million DealBy
Baxter International has agreed to acquire Claris Injectables, a generic injectables pharmaceutical company based in Ahmedabad, India, for a total consideration of approximately $625 million. Claris Injectables is a wholly owned subsidiary of Claris Lifesciences.
Claris Injectables will add capabilities in production of generic injectable medicines, such as anesthesia and analgesics, renal, anti-infectives, and critical care in a variety of presentations including bags, vials, and ampuls. The acquisition will also provide Baxter with a pipeline and marketed portfolio of generic injectables with 11 molecules currently approved in the US along with research and development capabilities and three manufacturing facilities in Ahmedabad, India.
Through this combination, Baxter anticipates launching seven to nine new products annually over the next few years, increasing to 10-15 anticipated new product launches a year beyond 2019. Baxter currently participates in a differentiated segment of the generic injectables market with difficult-to-manufacture oncology drugs and a portfolio of standard-dose, ready-to-use premixed injectable products including anti-infectives, analgesics, and critical care medicines.
The transaction is subject to regulatory approvals and other customary closing conditions. The boards of directors of both companies have approved the proposed acquisition, and it is expected to close in the second half of 2017.
Source: Baxter International