Claris completes sale of its remaining 20% stake in Otsuka JV for Rs 130 cr

The firm entered into an agreement to sell the stake in OPIPL in May 2017

Ahmedabad-headquartered injectables player Claris Lifesciences has completed the sale of its remaining 20 per cent stake in Otsuka Pharmaceutical India Private Limited (OPIPL), the joint venture with Otsuka Pharmaceutical Factory and Mitsui & Co, to Otsuka for Rs 130 crore ($20 million).

Otsuka held 60 per cent in the joint venture, while Mitsui held 20 per cent and the remaining 20 per cent was with Claris. Claris Board had approved the decision in May this year to divest its entire stake in OPIPL.

Earlier, in December 2012, Claris Lifesciences had entered into a joint venture with Japan's Otsuka Pharmaceutical Factory and