Cipla EU completes $550m acquisition of US firms InvaGen and Exelan

Cipla EU completes $550m acquisition of US firms InvaGen and Exelan

Indian-based Cipla’s UK division has completed the acquisition of InvaGen Pharmaceuticals and Exelan Pharmaceuticals in previously announced deals worth $550m.

Cipla EU acquired the two US companies through a wholly owned special purpose vehicle, which would merge into InvaGen Pharmaceuticals, as part of the deal.

The acquisitions will allow Cipla to introduce products in respiratory and injectables, among others, in the coming years.

With the acquisition of InvaGen, Cipla gains access to around 40 approved abbreviated new drug applications, 32 marketed products and 30 pipeline products that are anticipated to be approved in the next four years.

“InvaGen’s balanced portfolio, robust manufacturing base and strong R&D capabilities will act as a lever to expand Cipla’s reach in the US market.”
Combined with the pipeline of InvaGen products, Cipla’s overall portfolio will cover chronic therapies like CVS, CNS, respiratory, oncology and diabetes among others.

Cipla global chief operating officer Umang Vohra said: “The acquisition will further strengthen Cipla’s presence in the US pharmaceutical market. InvaGen’s balanced portfolio, robust manufacturing base and strong R&D capabilities will act as a lever to expand Cipla’s reach in the US market.”

With more than 500 employees, InvaGen operates three facilities in New York, with a total annual production capacity of 12 billion tablets and capsules. Exelan is focused on the sales and marketing of generic pharmaceuticals for the government and institutional market.

Through Exelan, Cipla will have access to the government and institutional market in the US.

InvaGen and Exelan had combined sales of more than $230m in the 12 months ended last year.

19 February 2016

Source: http://www.pharmaceutical-technology.com/

February 22, 2016 / Pharma News