Claris Lifesciences is currently trading at Rs. 408.00, up by 49.55 points or 13.82% from its previous closing of Rs. 358.45 on the BSE.
The scrip opened at Rs. 430.10 and has touched a high and low of Rs. 430.10 and Rs. 403.95 respectively. So far 6,81,000 shares were traded on the counter.
The BSE group 'XC' stock of face value Rs. 10 has touched a 52 week high of Rs. 430.10 on 16-Dec-2016 and a 52 week low of Rs. 126.10 on 12-Feb-2016.
Last one week high and low of the scrip stood at Rs. 430.10 and Rs. 308.00 respectively. The current market cap of the company is Rs. 2,253.65 crore.
The promoters holding in the company stood at 52.56%, while Institutions and Non-Institutions held 26.78% and 20.66% respectively.
Claris Lifesciences has entered into definitive agreements with Baxter International Inc. (Baxter) for the sale of its global generic injectables business for a total gross consideration of $625 million. The injectables business has been growing rapidly over the last few years and has attracted significant interest. The company intends to repatriate a significant majority of the net cash proceeds (post taxes and expenses) to the shareholders.
Credit Suisse and Jefferies acted as the financial advisers to Claris, Herbert Smith Freehills LLP, Veritas and AZB acted as the legal advisor to Claris.
Claris Lifesciences is a multi-business enterprise and the holding company of Claris Injectables, a wholly- owned subsidiary dealing in Speciality Injectables business and has a minority stake in Claris Otsuka. Claris has a total of 11 approved products in the US, around 25 ANDAs under review with the FDA and markets its products in 75+ countries.
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