Impact of Claris acquisition on Baxter’s 3Q17 results
Baxter International (BAX) completed its acquisition of Claris Injectables to expand its injectables portfolio in July 2017. The company expected the deal to contribute around $20 million to the company’s total sales in 3Q17.
Baxter released its 3Q17 quarterly results on October 25, 2017, and reported a contribution of ~$27 million from the Claris acquisition. (For details of the company estimates, read “Effect of Claris Injectables Acquisition on Baxter’s 2017 Growth.”)
The deal helps Baxter International in accelerating its focus on expanding the company’s presence in the generic injectable pharmaceuticals market and strengthening its market position. It faces stiff competition from Pfizer (PFE), Mylan (MYL), and Novartis (NVS).
Acquisition integration progress
According to Baxter International, the Claris Injectables acquisition has received a positive early market response. The company is working on building momentum and commercial synergies as the integration progresses and the company adds new molecules to its portfolio.
Benefits of Claris acquisition in fiscal 2017
Baxter International expects Claris sales of $57 million to contribute to the company’s total sales in fiscal 2017. This represents an improvement of ~50 basis points in the company’s sales. In 4Q17, the acquisition is expected to contribute to a growth of ~100 basis points in sales.
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