Mitsui may invest Rs 250 crore in Claris
This deal will mark Mitsui’s second investment in the Indian pharmaceutical market in a span of two months.
Mumbai, October 16, 2012: The Japan-based Mitsui is looking at investing Rs 250 crore in the domestic drug firm Claris Lifesciences. It has been learned that the Ahmedabad-based company, which is one of India's largest sterile injectables pharmaceutical companies with presence in over 90 countries may see investment from Japan in the coming few days.
The Japanese diversified conglomerate is expected to pick up stake from private equity players invested in Claris or invest in a joint venture that its promoters might float. It is worth noting here that the US-based private equity player Carlyle Group, insurance company Max New York Life and Singapore-based investment firm Tree Line Asia Master Fund together hold 14 per cent stake in Claris.
If this deal is closed, it will mark the second investment of the Japanese conglomerate in the Indian pharmaceutical market. It may be recalled here that Mitsui invested Rs 300 crore in Mumbai-based Arch labs last month.