Claris Lifesciences Spikes Over 3% FIPB Clears Claris Bid

Shares of Claris Lifesciences are surging nearly to 3% in the early market hours of Tuesday’s trade on BSE.

The shares of the pharma player opened at Rs 360 and maintained the opening price of Rs 360 some time but later slipped to Rs 348. 

On the previous day, the Foreign Investment Promotion Board has cleared a proposal by Claris Lifesciences to sell its global generic injectables business to US-based Baxter International Inc., for $625 million.

The company has 40 abbreviated new drug applications filed with US Food & Drug Administration, of which 16 have been approved, as the firm affirmed in a statement.

With the addition of Claris Lifesciences portfolio, Baxter is eyeing to launch 7 to 9 new products annually over the next few years. 

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