Japan's Otsuka Pharmaceutical buys out Claris' 20% stake in JV for $ 20 mn

With this, Otsuka to strengthen its basic IV solution and clinical nutrition business in India

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Claris' pharmaceutical products

Rakesh Rao Mumbai

Last Updated : May 09 2017 | 1:01 PM IST

Ahmedabad-based Claris Lifesciences has entered into a definitive agreement to sell its 20 percent stake in Otsuka Pharmaceutical India Pvt Ltd (formerly known as Claris Otsuka Pvt Ltd) to its joint venture partner, Otsuka Pharmaceutical Factory Inc (OPF) of Japan, for a total consideration of $ 20 million (about Rs 129 crore).

In July 2013, Claris Lifesciences had transferred its infusion business in India and emerging markets to the joint venture, Claris Otsuka. As per the terms of agreement, Claris held 20 percent stake in the joint venture, while Otsuka Pharmaceutical and Mitsui & Co Ltd owned 60 percent and 20

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