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.”
Source: The Hindu Business Line
The deal will see Microsoft use its capabilities in computational services, cloud computing and artificial intelligence to support drug discovery and development at UCB.
The planned closures come as GSK has agreed to sell its cephalosporins antibiotics business to Sandoz, a division of Swiss pharma firm Novartis, for as much as US$500m.
“The launch of these new formulations provides the nutritional market with much-needed alternative coating systems that address clean label consumer preferences and are easy to implement,” says Kelly Boyer, vice president film coatings at Colorcon.
