December 15, 2016
Baxter International Inc. (NYSE:BAX), a global leader in sterile medication production and delivery, has announced that it has entered into a definitive agreement to acquire Claris Injectables Limited, a wholly owned subsidiary of Claris Lifesciences Limited, for total consideration of approximately $625 million. Headquartered in Ahmedbad, India, Claris Injectables will add proven capabilities in production of essential generic injectable medicines, such as anesthesia and analgesics, renal, anti-infectives and critical care in a variety of presentations including bags, vials and ampoules. The transaction closed in July 2017.
Latham & Watkins LLP represents Baxter in the transaction with a cross-border corporate deal team led by Chicago partner Thomas E. (Ted) Keim, Jr. and London partner Robbie McLaren, with Chicago associates Ian Helmuth, Tessa White and Jocelin Chang and London associate Muli Zhou. Advice was also provided on tax matters by Chicago partner Diana Doyle and London partner Sean Finn, with London associates Robert Thomas and James Dabell and Washington D.C. associate Sean FitzGerald; on UAE law matters by Dubai partner Christopher Lester with associate Donya Fredj; on intellectual property matters by San Diego partner Steven Chinowsky and counsel Darryl Steensma; and on healthcare regulatory matters by Washington, D.C. partner Ben Haas. Singapore-based partner Rajiv Gupta coordinated India law matters with local counsel.