Baxter Agrees to Acquire Claris for $625 Million
Claris Injectables, a subsidiary of Claris Lifesciences, put its generic injectables unit up for sale last summer.
Baxter has entered a definitive agreement for the acquisition of India-based Claris Injectables for $625 million. The news was announced in a company press release on December 15, and Baxter intends to launch up to 9 products per year moving forward.1
With this target in mind, Baxter could launch up to 15 new products by 2019, with even more in the coming years. Claris Injectables, a subsidiary of Claris Lifesciences, put its generic injectables unit up for sale last summer.
Both companies’ Board of Directors approved the proposed acquisition. It is expected to close in the second half of 2017.
“The capabilities we gain with Claris Injectables will augment and complement our differentiated technologies, expertise and extensive presence in the hospital channel to create a pathway for Baxter to become a global leader in generic injectables,” Jose Almeida, Chairman and Chief Executive Officer of Baxter, said in a press release.
Baxter intends to build upon Claris Injectables as a foundational asset. The company has a 15-year history of creating products that are essential for medicines, including anesthesia and analgesics.
“Baxter’s deep and long history, roots in the hospital business, and expertise to advance the business as a strategic platform will catapult the combined organization’s R&D, manufacturing and people capabilities,” Arjun Handa, Executive Vice Chairman and Group MD of Claris Lifesciences Ltd, said in the press release.
1. Baxter to Expand Portfolio of Essential Generic Injectable Medicines with Acquisition of Claris Injectables Limited [news release]. Deerfield, Ill: Baxter. December 15, 2016. https://goo.gl/klyeLa