|Baxter Completes Acquisition of Claris Injectables, Expanding Generic Injectable Medicines Portfolio|
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“This acquisition reinforces our commitment to establishing Baxter as a global leader in generic injectable medicines,” said José (Joe) E. Almeida, chairman and chief executive officer, Baxter. “The combination of Baxter and Claris Injectables will allow us to increase access to lower-cost generic injectables and strengthen our ability to meet the needs of healthcare providers and patients around the world.”
With this acquisition, Baxter gains access to the complete Claris
Injectables product portfolio and pipeline as well as three
manufacturing plants. These facilities feature state-of-the-art
technology and are registered with global regulatory agencies, including
one plant registered with the
The expanded capabilities and facilities gained in the acquisition will provide a foundational growth platform for Baxter to help accelerate the number of products it launches in both the near- and long-term. The acquisition is anticipated to add more than 50 products to Baxter’s portfolio in 2017, almost 20 new products in the aggregate in 2018 and 2019, and 10-15 products per year beginning in 2020.
The total consideration for the transaction was approximately
Baxter provides a broad portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile IV solutions; infusion systems and devices; parenteral nutrition; surgery products and anesthetics; and pharmacy automation, software and services. The company’s global footprint and the critical nature of its products and services play a key role in expanding access to healthcare in emerging and developed countries. Baxter’s employees worldwide are building upon the company’s rich heritage of medical breakthroughs to advance the next generation of healthcare innovations that enable patient care.
This release includes forward-looking statements concerning Baxter’s
acquisition of Claris Injectables, including expectations regarding the
financial impact of such acquisition on the company (including with
respect to adjusted earnings, which excludes intangible asset
amortization expense, inventory step-up and transaction, integration and
restructuring costs) and the anticipated launch of new products.
The statements are based on assumptions about many important factors,
including the following, which could cause actual results to differ
materially from those in the forward-looking statements: the company’s
ability to successfully integrate Claris Injectables and realize the
anticipated benefits from the acquisition in the amounts and at the
times expected and generate the adjusted earnings included in the
company’s outlook for 2017 and thereafter; demand for and market
acceptance of new and existing products; the ability of Baxter to
develop, manufacture and commercialize, as applicable, new and existing
products; product quality or patient safety concerns; actions of
regulatory bodies and other governmental authorities; changes in laws
and regulations; and other risks identified in Baxter’s most recent
filing on Form 10-K and other
Baxter International Inc.