Claris Life sells injectibles biz to Baxter for $625 mn

Pharmaceutical Company Claris Lifesciences has sold its injectibles business to US- based Baxter. The deal is priced at USD 625 million and will be completed by the second half of 2017. While the deal was an expected one, street estimates valued it at no more than USD 500 million. This could have a bearing on the stock price in trade on Friday.The stock movement will depend on likely dividends and tax implication from the capital gains, says Vishal Manchanda, Pharma Analyst, Nirmal Bang.A large chunk of the company's revenues came from the injectibles business. With the vertical being sold off, it may be planning to look at some other venture which is outside the pharma sector.Kewal Handa, Former Managing Editor of Pfizer says Claris could have fetched more from this deal than it has settled for.Watch video for more.