Carlyle invests $20 mn in Indian drug maker Claris Lifesciences
Mar 22, 2006 - 1:40:00 AM
, Reviewed by: Priya Saxena
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"The expansion plans will significantly enhance Claris' ability to establish its international presence and tap the full potential of the global injectables market,"
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By IANS,
[RxPG] Global private equity firm Carlyle Group said Tuesday it had invested $20 million in Claris Lifesciences, an Indian pharmaceutical firm that makes lifesaving products.
The investment will fund Claris' growth plans, which include expanding existing capacity and establishing new facilities, research and development, and product development initiatives.
These are the key components of Claris' strategy to enter into top regulated markets in the US and Europe, said a company official.
"Carlyle's investment comes at an inflection point, with Claris poised to grow multi-fold in the next couple of years," Sushil Handa of Claris Lifesciences told reporters here.
"The expansion plans will significantly enhance Claris' ability to establish its international presence and tap the full potential of the global injectables market," he added.
Claris' product basket encompasses the high-end critical care segments including clinical nutrition, blood products, plasma expanders, transplant, dialysis, anti-infectives and cardiology.
The company's products are supplied to hospitals in over 65 countries. It recently commissioned a manufacturing facility as per the USFDA Drug Master File (DMF) guidelines.
"Claris is led by seasoned entrepreneurs who have built the company into a strong, world-class player in a very short period," said Shankar Narayanan, managing director and head of Carlyle's growth capital team for India.
"Under their leadership, Claris has opted to focus on highly profitable segments with less than three to four players in a single product space to minimise competitive intensity," he added.
Wayne Tsou, managing director and head of Carlyle's Asia growth capital group, said Carlyle could help engineer significant growth through tapping the global network, financial and management expertise, as well as deep industry knowledge.
"Our experience in managing a global portfolio of healthcare companies will be valuable to support Claris' international expansion and help attract strong talent and partnership opportunities in various markets," he added.
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Indo-Asian News Service
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