Unlocking New Growth

An erstwhile pharma major, Claris has now pivoted itself for new growth and opportunity through diverse business interests.

Claris Ltd. (Claris) is a holding company established with the long-term objective of diversifying into multiple businesses driven by the spirit of innovation, and a desire to make sustainable impact. Powered by our experience in building large scale global businesses from scratch, efficiently and quickly, Claris has positioned itself for new growth and opportunity through investments and management interest in the fields of clean energy, venture capital and incubators.

Our genesis dates back to 1999, when we set up Claris Lifesciences, a healthcare company which specialised in niche and high-entry barrier businesses with a focus on specialty injectables and infusions.

At its peak, the infusions business, which was India and emerging markets centric, had more than 50% market share in the IV fluids segment, in the regions and product SKUs where we were present. In the injectables space, Claris was one of the largest pure play sterile generic injectables companies in India, with approvals from some of the most stringent regulatory bodies in the world, such as the US FDA, MHRA (UK), and TGA (Australia), among others.

In the span of two decades, the company created nearly a billion-dollar valuation, established a world-class integrated business model, introduced over 130 products, built presence in over a 100 countries, had a team of over 4,000 staffers & workers, and was also listed on the Bombay Stock Exchange from 2010 until 2018.

The years 2017-2018 saw the exit of Claris from healthcare. The injectables business was sold to Baxter Inc., USA for a consideration of $625m (Rs4237cr) after delivering a year-on-year growth of 48% from 2013 until 2017. The infusions business, which was valued at $250m (Rs1300cr) in 2013 at the time of entering a JV with Otsuka Pharmaceutical Factory, Inc., Japan and Mitsui & Co. Ltd., Japan where they were given an 80% stake, was completely sold to Otsuka in 2017. The company also after having successfully raised Rs300cr through an IPO listing in 2010, voluntarily delisted from the BSE in 2018, with a payback of over Rs1073cr to investors.

Claris sets a classic example of a business that successfully transitioned from being family-centric to a professionally-run enterprise. At the helm since 2008, Vice Chairman and MD Arjun Handa brought accelerated growth that saw Claris leverage cutting-edge manufacturing capabilities. A former national-level football player, Arjun credits the game for driving his vision to target difficult-to-develop, complex products within the injectables space, which is characterised by high-entry barriers. The lessons he learnt on the pitch, from team spirit to perseverance, have reflected in his ability to strategise, inspire and lead.

Arjun’s commitment to a people-centric culture has helped Claris win The Economic Times and Great Place to Work® Institute, India’s ‘India’s Best Companies To Work For’ award, 8 years in a row. Other accolades included Fortune India’s ‘The Next 500’, Business Standard’s ‘BS 1000’ and Inc. India’s ‘Innovative 100 List’. Arjun has also been recognised for his entrepreneurial and leadership qualities by The Economic Times (Promising Entrepreneurs of India Award) and Enterprise Asia (Asia Pacific Entrepreneurship Award in the Most Promising category), amongst others.

Parallel to striving for excellence, Claris also serves as a socially responsible organisation, fulfilling goals beyond business commitments. We support and encourage various social causes and focus our capabilities on creating opportunities in the sports and fitness sector, building ecosystems for business and entrepreneurship, and turning the spotlight on art and culture.

Claris Limited



‘Claris Lifesciences Limited’ is incorporated as a pharma trading company dealing in Blood Products.

Claris Limited



Targets international markets through niche and difficult-to-manufacture drugs; inauguration of first injectables manufacturing facility.

Claris Limited



Foundation of Active Pharmaceutical Ingredient (API) manufacturing facility; enters the infusions business with a focus on India and other emerging markets; receives the ISO 9001:2000 certification.

Claris Limited



Foundation of second infusions manufacturing facility Clarion IV; receives the MHRA (UK Regulatory Approval) for the injectables plant and its first product approval.

Claris Limited



Carlyle Group invests $20m (Rs90cr) for a minority stake in the business; receives the European approval for Propofol in LCT form in 11 countries.

Claris Limited



Receives the US Food & Drug Administration (FDA) approval for the injectables manufacturing plant; reaches Rs100cr EBITDA at a consolidated level.

Claris Limited



Our products now serve 76 countries; flagship product Profol/Provive becomes the #1 propofol brand in India with a 55% market share.

Claris Limited



Strategic partnership with Pfizer to target the USA, Canada, Europe, Australia and New Zealand markets; wins awards for quality and manufacturing excellence.

Claris Limited



Debut at the BSE with an IPO of Rs300cr, diluting 20% of the Company; wins the ‘India’s Best Companies To Work For’ award, ranking #1 in ‘Healthcare’ and #37 among ‘The 100 Best Indian Companies to Work For’.

Claris Otsuka



Launch of ‘Claris Otsuka’, a joint venture with Otsuka Pharmaceutical Factory, Inc. and Mitsui & Co. Ltd., valued at $250m (Rs1300cr).

Claris Limited



Launch of second injectables manufacturing facility Clarion V; focus on the newer technologies of aseptic filling.

Claris Limited



One of the lowest attrition rates in the Pharma industry at 15% versus the industry average of 25%; wins the ‘India’s Best Companies To Work For’ award for the seventh year in a row.

Claris Limited



Hits 48% growth for a consecutive fourth year for the specialty injectables business; now present in over 100 countries; global generic Injectables business is sold to Baxter for $625m (Rs4237cr).

Claris Limited



Voluntarily de-lists from the Bombay Stock Exchange; returns Rs1,073cr to shareholders as part of the delisting process.

Claris Limited



Claris 2.0; focus on venture investment and financial management; enters multiple businesses.


When you love what you do, you do what you love

At Claris, you’re recognised for your hard work, you get to work with amazing and talented people, and you can get involved with your community by giving back. It’s the right place for those who seek to build a career for themselves while following their passions.


Claris has been recognised for its conducive work environment, value-based & friendly work culture, people-oriented work practices, culture of celebrations, and development orientation.

Claris Corporate Headquarters Awarded LEED Certificate - Gold Rated Green Building By USGBC
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Arjun Handa, Vice Chairman & MD, recognised as one of ‘The Economic Times Most Promising Business Leaders of Asia 2017-18’
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2017 / Culture
India's Best Companies To Work For 2017
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