Claris Lifesciences yet to get USFDA clearance

AHMEDABAD: Claris Lifesciences said its consolidated net profit rose 9% for the first quarter of calendar year 2012 to Rs 21.7 crore. The Ahmedabad-based parenteral drug company further said it continues to await USFDA clearance following an alert about contamination and manufacturing violations.

In 2010, Claris had to recall its three antibiotic drugs from the market following the USFDA alert.

Claris has a supply agreement with Pfizer Inc since 2009 and the multinational had to recall a few drugs in the made at Claris' plant. The company said, two of its plants have now been audited by Brazilian drug authority – ANVISA, a requirement for pharma firms looking to enter the Latin American country.

On Monday, Claris stock went up by 6.61% closing at Rs 186.95.The consolidated turnover for the quarter rose by 15.7% at Rs 183.4 crore compared to last year's Rs 158.5 crore.Domestic sales contributed 40% revenues.