Claris a Target for Takeover

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The next target in the takeover of Indian injectible drug makers is Claris Lifesciences Ltd. The shortage o medicine in the US is forcing buyers to seek companies overseas that comply with regulatory requirements as to manufacturing facilities and methodologies. The company has focused on injectable drugs in the past few years.

According to estimates, Claris can easily reach US$446 million market value, double its initial estimates based on the current trends of purchasing Indian pharmaceutical firms at least four times their actual valuations. Interested buyers may include Teva Pharmaceutical Industries and Pfizer according to market analysts.

As a result, share values if Claris increased by 4.8% to Rs 199.3, its highest value in a month. The stock values have continued to climb 34% in the past year, outperforming the benchmark S&P BSE Sensex Index of 9.9%.

For its part, Claris spokesperson Mit Desai declined to comment on the takeover prospects after an email inquiry was sent.

Tags
Shares, Takeover bid

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