Cipla acquires two US-based generic Cos for $550 mn

India-based Cipla’s UK arm, Cipla EU, announced today that it has entered into definitive agreements to acquire two US-based companies, InvaGen Pharmaceuticals and Exelan Pharmaceuticals


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The deal is said to be an all cash transaction worth $550 million.

The combined revenue from these transactions is over $200 million for the year ended Dec 2014 and over $225 million in LTM June 2015.

Located in New York (NY), InvaGen was established in 2003, and focuses on development, manufacturing, marketing and distributing of generics on a wide range of therapeutic areas including cardiovascular, anti-infective, CNS, anti-inflammatory, anti-diabetic and anti-depressants.

Through this acquisition, Cipla will also gain InvaGen's 3 manufacturing units located in Long Island, NY.

The units boast of production capacity of 12 billion tablets and capsules per year.


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