OR WAIT null SECS
Baxter will acquire Claris Injectables Limited, adding additional generic injectable capabilities to the company’s porfolio.
Baxter International will acquire Claris Injectables Limited for approximately $625 million, the companies said in a Dec. 15, 2016 press announcement. Claris Injectables will add capabilities in production of essential generic injectable medicines, including anesthesia and analgesics, renal, anti-infectives, and critical care in a variety of presentations including bags, vials, and ampoules, to Baxter’s portfolio. The acquisition is expected to close in the second half of 2017.
Claris Injectables, based in Ahmedabad, India, is a global generic injectables pharmaceutical company. The acquisition of Claris Injectables will provide Baxter with a pipeline and marketed portfolio of generic injectables with 11 molecules currently approved in the United States, along with fully integrated research and development expertise and three manufacturing facilities registered with several global regulatory agencies. Through this combination, Baxter anticipates launching seven to nine new products annually during the next several years, increasing to 10–15 anticipated new product launches a year beyond 2019.
“The Claris Injectables acquisition will expand Baxter’s presence in the fast growing, global generic injectable pharmaceuticals space and accelerate our growth trajectory with high-value, essential medicines that will benefit patients worldwide,” said Jose Almeida, chairman and CEO of Baxter in a press announcement. “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.”