Claris Lifesciences spikes up

With volumes spiking up almost 8 times, Claris Lifesciences is having a very good run on the bourses today. Up currently by almost 11% at Rs.310.90, the stock hit an intra day high of Rs.331. Its 52-week high remains at Rs.358.

There has been a buzz around this stock for a long time now, with rumours cropping up intermittently about the company being taken over by some other pharma company – domestic as well as MNCs are doing the rounds. This time, the news is that Cadila Healthcare has emerged as the “most likely” candidate to acquire Claris generic injectibles business.

With its market cap currently at Rs.1970 crore, the grapevine has it that Cadila will be paying quite a hefty premium for this acquisition. Valuations of Rs.3100-3400 crore are being talked about. The deal is expected to be finalized in a month’s time.

None of the companies have confirmed the news.