Claris Life Sciences targets Rs 400 cr turnover

Chennai, Oct 12: Ahmedabad-based Claris Life Sciences, leading life saving products manufacturer, has targeted annual turnover of Rs 400 crore in the current fiscal as against Rs 292 crore last year.

Talking to media today, Claris Life Sciences Business Development Director Nayan Rao said the company had earned a profit of Rs 24 crore last year and this year it was expected to cross Rs 40 crore.

The company, launched in 2000 and specialising in intellectual property-driven products had built strong regulatory and registration capabilities with over 1,000 product dossiers filed in various countries, including nine Abbreviated New Drug Applications (ANDA) in the US and over 40 Marketing Authorisation Applications (MAAs) in Europe and Australia.

To a question, he said the global private equity firm Carlyle group had made a 20 million U S Dollar investment in the company in March this year to support their international expansion plans, which included expanding existing capacity, establishing new facilities and Research and Development initiatives.

The company was the first Indian Pharmaceutical Company where a US based-group had made investments, he claimed.

He said the main aim was to develop the company as a Rs 1000 crore company by 2008.

By foraying into niche segments of biotech products and introducing high-end range of cardiac as well as oncology products, the company had broadened its line of business.

The company would focus more on markets in US, European Union, Australia, Canada and China.

Presently, the company had presence in over 68 countries across the globe through its own subsidiaries and strong network of over 1000 international distributors.

They had significant operations in Latin America, South East Asia, African countries and the Gulf Cooperation Council (GCC) countries.

He said the company's manufacturing facilities were housed on an 85-acre campus and they had 230 different products, which were approved by international regulatory authorities including UK's MHRA, Australia's TGA, Finland's NAM, GCC and the Brazil-based ANVISA.

To strengthen their domestic presence, they were planning to set up 15 new offices in important business territories across the country, including one at Chennai shortly, he added.

UNI