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Our Bureau

To raise Rs 100 cr through ECB

Bangalore , Oct. 11

Claris Life Sciences hopes to come out with a few critical care products for cancer by the year-end and also foray into niche segment of biotech products.

The company would be raising Rs 100 crore through external commercial borrowing (ECB) to part fund its expansion programme that envisages increasing its presence in 20 additional countries to its present 60 to leverage its strong brand acceptance, which includes certain high-value niche therapy medicines for convalescing patients. The company had raised $20 million initially to start up operations in 2000.

Claris' range of products and delivery systems such as injectibles includes enteral and parenteral nutrition, anaesthesia, blood products and plasma volume expanders, dialysis and transplant, cardiac care and infusion therapy.

Mr Nayan Rao, Director, Business Developments, told mediapersons here on Wednesday that with increasing contribution from exports, Claris decided to concentrate on niche products with increased research efforts to add value and effectiveness to its products.

With its focus expanding to specialised critical care neutraceuticals (therapeutic medicines), the company expects its revenues to jump to Rs 1,000 crore by 2009 from the current year's Rs 400 crore. The share of exports would increase significantly due to high value products from 65 per cent of the turnover now.

Mr Rao said that the company was also strengthening its domestic marketing infrastructure by planning to open 15 new offices. Claris, which has recorded a 45 per cent growth, has garnered a 40 per cent market share.

More Stories on : Overseas Borrowings | Pharmaceuticals | Health

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