Claris completes USD 20 mn stake sale in JV to Otsuka

Drug firm Claris Lifesciences today said it has completed stake sale in its joint venture Otsuka Pharmaceutical India to Otsuka Pharmaceutical Factory Inc for a consideration of USD 20 million.
The company has completed sale of its remaining 20 per cent stake in Otsuka Pharmaceutical India Pvt Ltd to Otsuka Pharmaceutical Factory Inc (Japan), Claris Lifesciences said in a filing to BSE.
The company had earlier announced in a regulatory filing in May this year about the decision of its board to sell its stake in the joint venture to Otsuka Pharmaceutical Factory Inc for USD 20 million.
The company's JV was with Otsuka Pharmaceutical Factory Inc and Mitsui & Co, it added.

Shares of Claris Lifesciences today closed at Rs 373.65 per scrip on BSE, up 0.11 per cent from its previous close.