Claris Said to Start Sale of $500 Million U.S. Injectables Unit

Indian pharmaceutical producer Claris Lifesciences Ltd. has started a sale of its U.S. injectable-drug business, which could fetch at least $500 million, people with knowledge of the matter said.

Claris Lifesciences has reached out to potential buyers including Baxter International Inc. and other U.S. companies, the people said, asking not to be identified as the information is private. It has asked for bids by the end of August, according to the people. The sale could also draw interest from Indian drugmakers such as Cadila Healthcare Ltd., Intas Pharmaceuticals Ltd. and Torrent Pharmaceuticals Ltd., the people said.