The Hindu Business Line : Claris gets US nod for sterile injectibles facility

Ahmedabad March 20 The Ahmedabad-based pharma major Claris Lifesciences Ltd has got the US Food and Drug Administration approval for its sterile injectible manufacturing facility here, making it one of the few integrated facilities of its kind globally, its Chief Operating Officer, Mr Arjun Handa, said on Tuesday. The company's three more plants here will become operational this year.

Addressing a press conference, he said the company has filed nine ANDAs (abbreviated new drug applications) in the US last year and 20 more are in the pipeline for this year. These products would be available in the US by end-2007.

The company has a presence in that country with a wholly owned subsidiary Claris Lifesciences Inc.

It has, till date, invested $72 million and by year-end, intends to invest a total of $100 million. Claris, which has a 220-product basket, has presence in 76 countries including the US, and other regulated markets of Europe, Australia and New Zealand.

Having earned revenues of Rs 400 crore in 2006, including 50 per cent from exports, the company is projecting revenues to the tune of Rs 700 crore this year and Rs 1,000 crore next year. It now has a sales capacity worth Rs 1,200 crore, Mr Handa said, adding the company would foray into new businesses such as cardiology, oncology and biotechnology from next year.

Claris has registered a compounded annual growth rate of more than 40 per cent year-on-year in recent past and would plan for inorganic growth after two years.

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