Caplin Point subsidiary inks pact with Baxter Healthcare for generic injectable portfolio

Drug firm Caplin Point Laboratories Monday said its subsidiary has entered into a license and supply agreement with Baxter Healthcare Corporation for five generic injectable portfolio.

As a part of the deal, Caplin Steriles, a wholly owned subsidiary of Caplin Point Laboratories Ltd, will out-license five of its injectable Abbreviated New Drug Applications (ANDAs) to Baxter Healthcare Corporation.

"Caplin Steriles Ltd has entered into a license and supply agreement with Baxter Healthcare Corporation for five generic injectable ANDAs," Caplin Point Laboratories said in a regulatory filing.

Specific terms of the agreement and financial details, however, were not disclosed.

"All these ANDAs have been developed in-house, and we are keen to license them to Baxter, who have an excellent sales and marketing infrastructure in the US for commercialisation of these products," Caplin Point Laboratories Chairman C C Paarthipan said.

Shares of Caplin Point Laboratories were trading 2.36 per cent higher at Rs 396.45 apiece on BSE.