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.
