Claris Life sciences has formed a joint venture with Japan's Otsuka Pharmaceutical Factory and Mitsui & Co for its infusions business in India and emerging markets. The joint venture will include the common solutions, anti-infectives, plasma volume expanders and parenteral nutrition therapies.
In the business, which is valued at Rs 1,313 crore, Claris will receive Rs 1,050 crore in cash over multiple agreements. Claris and Mitsui will hold 20 percent each in the JV, while the rest will be held by Otsuka Pharma.
Further as per the deal, two out of the five plants will also be transferred to the JV and Claris-Otsuka will co-brand the products in India and across emerging markets. The JV will also introduce Otsuka's specialty products in India and emerging markets, and Otsuka will also have an opportunity to leverage the JV's manufacturing infrastructure and supply chain for its global business.
