Baxter, a market leader in the production of sterile pharmaceutical products, entered into an agreement to acquire Claris Injectibles Ltd on the 15 December 2016. The agreement is reportedly worth US$625 million.

Claris Injectibles, based in India’s sixth largest city Ahmedabad, is a subsidiary of Claris Lifesciences Ltd. The company has a successful 15-year history and manufactures a range of injectable medicines. Baxter says the acquisition will bring valuable expertise in the production of essential generic injectables including anaesthetics, analgesics, anti-infectives and critical care medicines.

The global market for sterile generic injectables is estimated to be worth over US$40 billion, and growing. Although Baxter already manufactures a range of essential generic injectables, Claris will provide an additional pipeline of generic injectables, including 11 molecules that are already approved by the US Food and Drug Administration (FDA).

Claris also has ongoing R & D activities and three manufacturing facilities registered with global regulatory agencies. Baxter aims to build on these foundations by adding differentiated technologies, such as the production of complex cancer treatments, and investing to expand their research and manufacturing capabilities.

The deal will accelerate Baxter’s efforts to become a leader in the injectables market by increasing their production of high-value, essential injectables. According to CEO Jose Almeida, Claris’ capabilities, expertise and presence in the hospital sector will create a pathway for Baxter to become a ‘global leader in generic injectables’. They hope to launch nine new products every year, increasing this to up to 15 annual product launches after 2019.

Claris Lifesciences commented that they hope Baxter’s experience and expertise will boost their R & D, manufacturing and people capabilities, providing benefits for patients, team members and partners. The acquisition has been approved by the boards of both companies and is expected to complete in the second half of 2017.

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