Baxter International Inc. will acquire Claris Injectables Limited for about $625 million. Claris will add 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. The deal is expected to close in the second half of 2017.
Sterile medication production is a core competency for Baxter, which manufactures a broad range of essential generic injectable medications—including both frozen and liquid preparations. Baxter currently participates in a differentiated segment of the generic injectables market with difficult-to-manufacture oncology drugs and a broad portfolio of standard-dose, ready-to-use premixed injectable products including essential anti-infectives, analgesics and critical care medicines.
Claris Injectables, based in Ahmedabad, India, is a global generic injectables pharmaceutical company and will provide Baxter with a robust pipeline and marketed portfolio of generic injectables with 11 molecules currently approved in the U.S. along with fully integrated research and development expertise and three manufacturing facilities registered with a number of global regulatory agencies, including the U.S. FDA. Baxter says Claris Injectables will be a foundational asset to accelerate its strategy to become a global leader in the injectable pharmaceuticals space. Baxter will build upon Claris Injectables’ existing footprint by adding itss differentiated technologies and making strategic investments to expand Claris Injectables’ R&D pipeline and manufacturing capacity. Through this combination, Baxter anticipates launching seven to nine new products annually over the next few years, increasing to 10-15 anticipated new product launches a year beyond 2019.