Baxter Buys Claris’ Generic Injectables Subsidiary for $625M
Baxter International said today it has plans to acquire Claris Lifesciences’ generic injectables subsidiary for approximately $625 million.
Claris Injectables will add to Baxter’s sterile medication production and delivery offerings, the buyer said, by adding capabilities in production of essential generic injectable medicines—such as anesthesia and analgesics, renal, anti-infectives, and critical care—in a variety of presentations including bags, vials, and ampoules.
Based in Ahmedabad, India, Claris Injectables is a 15-year-old global generic injectables pharmaceutical company with 11 molecules currently approved in the U.S. along with fully integrated R&D expertise and three manufacturing facilities.
Baxter said Claris Injectables will be “a foundational asset” as it seeks to become a global leader in the generic injectable pharmaceuticals market, which it pegged at more than $40 billion, growing at a 10% compound annual growth rate.
“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,” Baxter chairman and CEO José (Joe) Almeida said in a statement.
- Health Care