Claris Lifesciences announces joint venture in India and emerging markets

Claris, Otsuka Pharmaceutical and Mitsui have entered into a new joint venture.

Claris Lifesciences has announced a new joint venture with Otsuka Pharmaceutical Factory and Mitsui & Co for its infusions business in India and emerging markets.

Otsuka Pharmaceutical and Mitsui will invest approximately $200 million in the new company, which is expected to be called Claris Otsuka.

At the end of the transaction, Otsuka Pharmaceutical will hold a 60 per cent stake in the business, with Claris and Mitsui each owning 20 per cent.

Operations at the new company are expected to start in late 2013 in Ahmadabad in the state of Gujarat.
Arjun Handa, managing director and chief executive officer of Claris, claimed that the partnership "synergises the strength of all three partners".

He said: "The infusions business is growing very well in India and the emerging markets; this business needs a broad product portfolio and a commitment towards long-term capital investments in addition to technical and global expertise, which are clearly achieved by Otsuka and Mitsui's entry."

Ichiro Otsuka, president of Otsuka Pharmaceutical Factory, added that the partnership would "contribute to the betterment of medical care in India".