The $ 625 mn deal is a move to boost Baxter’s presence in this space
Claris Lifesciences recently announced that it has entered into definitive agreements with Baxter International for the sale of its global generic injectables business for a total gross consideration of $ 625 million.
The injectables business, has been growing over the last few years and has attracted significant interest. Reportedly, it has a total of 40 ANDAs filed in the US of which 16 are approved.
A company release informs that over the last five years the management and team at Claris Lifesciences has scaled up and created significant value across both its businesses – the earlier infusions business and now the speciality generic injectables.
Claris Lifesciences intends to repatriate a significant majority of the net cash proceeds (post taxes and expenses) to the shareholders.