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Cipla Injects Scale With $550m US Buy

 
• By Anju Ghangurde

Cipla is acquiring the US-based firms InvaGen Pharmaceuticals and Exelan Pharmaceuticals for $550m, a deal which is expected to arm the India company with a ready basket of on-market generic drugs and attractive filings in addition to a manufacturing base as it ramps up in the US.

Cipla Ltd.’s planned acquisition of InvaGen Inc. and Exelan Pharmaceuticals is the second such buyout deal involving an Indian firm in the US, after Lupin snapped up the privately owned niche firm Gavis Pharmaceuticals LLC and Novel Laboratories Inc. for $880m in July.

The all-cash transaction has been routed through Cipla's UK arm and both Invagen and Exelan are owned by the promoter...

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