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Claris Lifesciences not to pursue partnership route to sell in the US

Posted On: 2012-08-24 00:24:53

Claris Lifesciences Ltd has announced its strategy to sell in the US after the approval from The Food and Drug Administration of United States of America (US FDA).

The company clarified that it doesn't wish to supply to the US through any of its partners including Pfizer, West-ward and Sagent. Post the recall Pfizer and Claris had reviewed the supply agreement in wake of the import alert and the warning letter and the supply agreement with Pfizer is terminated. The company had been selling in the US before it had partnered with other company through its wholly owned subsidiary Claris Lifesciences Inc and had developed adequate capabilities to sell on its own.

The Claris Lifesciences Ltd stock was trading at Rs.205.80, down by Rs.4 or 1.91%. The stock hit an intraday high of Rs.215 and low of Rs.203.15.

The total traded quantity was 1.86 lakhs compared to 2 week average of 7.97 lakhs.


Source: Equity Bulls

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