Baxter announces takeover of Claris Injectables

Baxter has announced the acquisition of Claris Injectables, a wholly owned subsidiary of Claris Lifesciences, in a deal worth approximately $625 million (502.04 million pounds).

Claris Injectables specialises in the production of essential generic injectable medicines, including anaesthesia and analgesics, renal, anti-infectives and critical care products, in a variety of presentations.

This will bolster Baxter's sterile medication production capabilities and enable it to expand its presence in the global sterile generic injectables market, which is worth more than $40 billion and is growing at a ten percent compound annual rate.

Acquiring the India-based company gives Baxter access to a robust pipeline and portfolio of generic injectables, with 11 molecules currently approved in the US, as well as fully integrated research and development expertise and three world-class manufacturing facilities.

Jose Almeida, chairman and chief executive officer of Baxter, said: "The capabilities we gain with Claris Injectables will augment and complement our differentiated technologies, expertise and extensive presence in the hospital channel to create a pathway for Baxter to become a global leader in generic injectables."

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