Cipla acquires two US generic drug companies
Indian pharmaceutical giant Cipla Ltd. has acquired two US generic drug companies, InvaGen Pharmaceuticals Inc. and Exelan Pharmaceuticals Inc.
In this regard, Cipla has closed the transaction of the deal through its wholly-owned subsidiary, Cipla (EU) Ltd.
Key facts
- These deals will allow Cipla to further strengthen its presence in the US pharmaceutical market is world’s largest pharmaceutical market.
- It will also help the company to increase its revenue and introduce new products for oncology and diabetes in US.
- These acquisitions will also provide Cipla a launch pad to launch its pipeline of products in respiratory and injectables in US.
The combined revenue for the two US companies at the end of year 2015 was over 230 million dollars. InvaGen has robust manufacturing base and strong R&D capabilities.
This is the second large scale acquisition in Cipla’s 80 year history and the first was South Africa’s Cipla Medpro.
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Month: Current Affairs - February, 2016