Claris Lifesciences dips on sale of infusions business

9 December 2012

Indian drugmaker Claris Lifesciences (CLAI: BO) has dipped 4% to 264 rupees, declining over 6% from day’s high after the company said it has sold its infusions business due to a slump in sale basis, reports India’s Business Standard.

In a press statement, Claris Lifesciences announced on Friday that it has executed agreements for a joint venture (Claris-Otsuka); with Japan’s Otsuka Pharmaceutical Factory (OPF) and Mitsui & Co for its infusion business in India and Emerging Markets, subject to shareholders’ and regulatory approvals and other closing formalities.

The key elements of the transaction are as follows:

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