Ahmedabad-based sterile injectables pharmaceutical firm, Claris Life sciences, is planning to invest Rs 900 crore, a part of divestment of 80 per cent stake in its infusion business, on various initiatives, including growth of business and pre-payment of debt.
Recently, the company divested 80 per cent stake in its infusion business for a total consideration of Rs 1,050 crore and has entered into a tripartite joint venture with two Japanese firms for the same. Drug firm executed agreements for a joint venture Claris-Otsuka; with Japan-based Otsuka Pharmaceutical Factory (OPF) and Mitsui & Co Ltd for its infusion business in India and emerging markets.
Further, besides earmarking Rs 900 crore for various initiatives, the company plans to utilize another Rs 300 crore for organic and inorganic growth of the speciality injectables business.
Ahmedabad based, Claris Lifesciences offers injectibles in various therapeutic segments including anesthesia, critical care, anti-infectives, renal care, infusion therapy, parenteral nutrition and oncology. It has presence in 91 countries across Latin America, Europe, Gulf, Africa, CIS, Central Asia and Asia- Pacific.
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