City-based pharma player, Claris Lifesciences Ltd, said the company has completed the sale of its Global Generic Injectables Business to Baxter International Inc (USA) for an enterprise value of $625 million.
The company will discuss with its advisors and identify the most efficient method of transferring a significant majority of the net proceeds to its shareholder. The company expects to communicate the process before October 15, 2017.
Arjun Handa, Vice-Chairman and MD of Claris Lifesciences Ltd said, "Today, the Claris products and business model’s uniqueness has a significant potential to deliver strong growth. We believe Baxter is the best partner suited to take this platform forward and drive the next phase of growth."