Khaitan Amarchand AZB and Herbert Smith lead on Claris JV with Otsuka Pharma and Mitsui

Otsuka Pharmaceutical and Mitsui & Co. have invested Rs. 1050 crore ($193.5 million) in Claris Specialty Injectables, a subsidiary of Ahmedabad-based Claris Lifesciences to form a 3-way strategic joint venture between Otsuka, Mitsui and Claris..Khaitan & Co acted as Indian legal counsel to Otsuka. Khaitan team was led by Partner Bhavik Narsana with assistance from Corporate Partner Rabindra Jhunjhunwala, Banking Partner Devidas Banerjee, Litigation Partner Chakrapani Misra and Real Estate Partners Sudip Mullick and Abhishek Sharma. On Competition law aspect Counsel Avaantika Kakkar advised while Executive Director Daksha Baxi advised on Direct Tax issues and Executive Director Dinesh Agarwal advised on Indirect Tax issues. Principal Associate Adheesh Nargolkar assisted on IP issues..Herbert Smith Freehills acted as the International legal advisor to Otsuka with a team led by Partner James Robinson..Amarchand Mangaldas acted as the Indian Counsel for Mitsui with a team led by Partner Amit Kumar..AZB & Partners advised Claris with a team led by Partner Abhiji Joshi..As per the deal, Claris will transfer Common Solutions, Anti-Infectives, Plasma Volume Expanders and Parenteral Nutrition therapies business for India and the emerging markets to new joint venture Claris-Otsuka..The shareholding of Claris-Otsuka will be Claris 20%, Otsuka Pharma 60% and Mitsui 20%, reports ET..Claris-Otsuka shall co-brand its products in India and across Emerging Markets utilizing the manufacturing and marketing competence of Claris. The new joint venture will introduce Otsuka Pharma’s specialty products in India and Emerging Markets. Otsuka Pharma will leverage Claris-Otsuka’s manufacturing infrastructure and supply chain for its global business