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Claris gets $20 mn equity funding for expansion

Chennai, Oct 12 (IANS) Global Pharma company Carlyle Thursday made a $20 million investment in Claris Lifesciences, an Ahmedabad-based pharmaceutical, to be realised over a five-year period.

Thursday, October 12, 2006 | 8:12:58 PM IST (+05:30 GMT)
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Chennai, Oct 12 (IANS) Global Pharma company Carlyle Thursday made a $20 million investment in Claris Lifesciences, an Ahmedabad-based pharmaceutical, to be realised over a five-year period.

The company said it was increasing its domestic reach by opening a regional office in Chennai to have better access to markets in Karnataka, Kerala and Andhra Pradesh.

Claris, with subsidiaries and presence in 68 countries, provides critical care products and hopes to have a turnover of Rs.4 billion (with 12 percent profit) this year.

The company said it had about 100,000 domestic clients, which included most major hospitals of the country.

'We are looking at making 60 percent of our earnings from exports,' Nayan Rao, Claris' director, business development, told reporters.

'The company plans to expand its existing capacity and establish new facilities,' Rao said.

Claris Lifesciences is also foraying into biotech products and introducing high-end oncology and cardiac products.

Copyright : Indo-Asian News Service
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