Veritas, Luthra, Herbert, Latham lead on Claris sale of generic injectables biz to Baxter for $625 million

Claris Lifesciences Ltd will sell its global generic injectables business to US-based Baxter International Inc. for $625 million (Rs. 4,238 crore).

Veritas Legal and AZB & Partners acted as domestic legal counsel for Claris Lifesciences while Herbert Smith acted as international counsel.

The Veritas team was led by Partners Abhijit Joshi and Tusha Raut.

The AZB team was led by Partner Anand Shah along with Senior Associates Shriram Shah and Pallavi Satpute.

Luthra & Luthra advised Baxter on Indian aspect of the transaction while Latham & Watkins acted as international counsel.

The Luthra team was led by Mohit Saraf.

Claris had been trying to sell its injectable business for the past two years. Sale talks were held up after the US FDA issued a warning to its Ahmedabad plant in May 2015, reported Mint.