Claris Lifesciences is planning to sell its injectibles business and it is in preliminary talks with Japanese Pharma firm - Otsuka Pharma for the same.

IDFC and Barclays are the bankers to the deal, ET stated.

This news comes after the announcement by Strides Arcolabs to put up its injectable-drugs unit, Agila Specialties Private Limited for sale.

Ahmedabad based, Claris Lifesciences offers injectibles in various therapeutic segments including anesthesia, critical care, anti-infectives, renal care, infusion therapy, parenteral nutrition and oncology.

It has presence in 91 countries across Latin America, Europe, Gulf, Africa, CIS, Central Asia and Asia- Pacific. Last month, Mitsui of Japan, through its healthcare arm, was plnning to invest R250 Cr in Claris.

Meanwhile in July, Signet Healthcare Partners, a healthcare focused PE firm, bought around 2.20% stake in the company for R22.76 Cr during which the promoter offloaded part of his stake,

Last week, Claris Lifesciences received US FDA approval to manufacture and sell its product in US and also receive ANDA approvals.

Claris received 7 ANDA approvals across 4 products before the warning leeter was issued, the company has filed for a total of 32 ANDAs across 21 products which has an estimated market size in US of approx $ 1 Bn.

Claris, in 2009 entered into an agreement with Pfizer to gain access to markets in North America, Europe and Australia. The deal allowed Multinational drug-maker Pfizer Inc to sell 15 off-patent parenteral products made by Claris in the Western markets under its own brand name.

Back, in 2010, the USFDA issued a warning to the company over quality issues and banned the company from selling its products in the US until it complied with the issues. However, after inspecting Claris facility in February, USFDA subsequently lifted the ban earlier this week. But, Pfizer ended the deal soon after.

However after receiving approval Claris announced its strategy to sell on its own in United States through its wholly owned subsidiary, Claris Lifesciences Inc.

In May 2009, Novartis AG paid about 4.7 times sales for Unterach - Austria-based Ebewe Pharma's injectable drug unit in a $1.2 Bn purchase.

Mylan Inc. acquired closely held injectable drug business Bioniche Pharma Holdings Ltd for $550 million in 2010, paying about 4.2 times annual revenue.

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