Claris Lifesciences achieves turnover of Rs 400 crore

Pune, Oct 10 (UNI) Ahmedabad-based Claris Lifesciences, which started operations in 2000, has achieved a turnover of Rs 400 crore.

Claris Lifesciences manufactures life-saving products for treating critical illness and specializing in intellectual property driven products targeting critical Care Segment, with emphasis on Research, Technology and Quality, Claris offers a range of unique products and delivery systems in bottles, vials, ampoules, non-PVC and PVC Bags and prefilled syringes.

Claris Director Business Operations Nayan Rao while addressing a press conferencre here today said the company has been growing exponentially with a CAGR of over 45 per cent in topline since inception. The bottom line will stand at 11 per cent for the year 2006 against 8 per cent for 2005 say company sources.

Started in 2000, Claris has built up strong regulatory and registration capabilities with over 1,000 product dossiers filed in various countries including 9 Abbreviated New Drug Applications (ANDA) in the United States and over 40 Marketing Authorization Applications (MAAs) in Europe and Australia Mr Rao elaborated.

Global private equity firm, The Carlyle Group, has made a USD20 million investment in Claris in March 2006 to support Claris' international expansion plans which include expanding existing capacity and establishing new facilities, R&D and product development initiatives. These are the key components of Claris' strategy to enter into top regulated markets in the United States and Europe. Claris is the first Indian Pharmaceutical Company where in The US-based Carlyle Group has invested.

Carlyle's investment clearly proves the attractiveness of Claris businesses and operations for continuous growth in the global pharmaceutical market.

The company has broadened its line of business by foraying into the niche segments of Biotech product, and also introduced high-end range of cardiac as well as oncology products. The major focus areas for the company's further expansions will be on US, European Union, Australia, Canada and China.

At present Claris already has its presence in over 67 countries across the globe through its own subsidiaries and a strong network of over 1,000 international distributors. The company has significant operations in Latin America, South East Asia, African countries and the GCC countries Mr Rao explianed Claris' world-class manufacturing facilities are housed on an 85-acre campus located in Ahmedabad, India. The facilities are approved by international regulatory authorities including MHRA (UK), TGA (Australia), NAM (Finland), GCC (Gulf Co-operation Council) and ANVISA (Brazil). Claris is targeting US FDA inspection and approval of its manufacturing facilities in 2006.

To strengthen its domestic presence, the company is also planning to set up 15 new offices in the important business territories across the country. Claris with its strong network of 1,070 distributors and a sales team of over 700 people, it enjoys 30 - 40 per cent of market share for various products and different therapies, Mr Rao pointed out.

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