<p>Pharmaceutical firm Cipla today announced that its UK arm, Cipla (EU) has closed the USD 550 million deal to acquire two US-based firms, InvaGen Pharmaceuticals and Exelan Pharmaceuticals.<br /><br /></p>.<p>The acquisition was made by Cipla (EU) through a wholly- owned special purpose vehicle which would merge into InvaGen Pharmaceuticals after the acquisition, Cipla said in a BSE filing.<br /><br />In September the company had announced that it would acquire the two US-based companies owned by one of the promoters of Hetero Group in an all cash transaction of USD 550 million (approx Rs 3,650 crore).<br /><br />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 lever to expand Cipla's reach in the US market."<br /><br />The company said the acquisition will give scale to its US business, currently 8 per cent of total revenue as well as providing a launchpad to introduce Cipla's pipeline of products in respiratory and injectables, among others, in the coming years.<br /><br />The acquisition is second major buyout by Cipla in its 80 year history after the takeover of Cipla Medpro, South Africa.<br /><br />Cipla said the combined revenue for the two US-based firms for the year-ended 2015 is over USD 230 million.<br /><br />Combined with the pipeline of InvaGen products, the overall portfolio will be wide-ranging and will cover chronic therapies like CVS, CNS, respiratory, oncology and diabetes among others.<br /><br />The acquisition of InvaGen pharmaceuticals also provides Cipla with about 40 approved ANDAs, 32 marketed products, and 30 pipeline products which are expected to be approved over the next 4 years, the company said.<br /><br />In addition, InvaGen has filed five first-to-file products. Dosage forms include immediate release, modified release and extended release tablets and capsules. InvaGen has three units located in Long Island, NY, with a total production capacity of 12 billion tablets and capsules per annum and about 500 employees.<br /><br />With this acquisition, Cipla will have more relevance to wholesale and retail customers, the company added.<br /><br />Shares of Cipla were trading at Rs 523.75 in the mid-day trade, up 0.78 per cent from the previous close on BSE.</p>
<p>Pharmaceutical firm Cipla today announced that its UK arm, Cipla (EU) has closed the USD 550 million deal to acquire two US-based firms, InvaGen Pharmaceuticals and Exelan Pharmaceuticals.<br /><br /></p>.<p>The acquisition was made by Cipla (EU) through a wholly- owned special purpose vehicle which would merge into InvaGen Pharmaceuticals after the acquisition, Cipla said in a BSE filing.<br /><br />In September the company had announced that it would acquire the two US-based companies owned by one of the promoters of Hetero Group in an all cash transaction of USD 550 million (approx Rs 3,650 crore).<br /><br />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 lever to expand Cipla's reach in the US market."<br /><br />The company said the acquisition will give scale to its US business, currently 8 per cent of total revenue as well as providing a launchpad to introduce Cipla's pipeline of products in respiratory and injectables, among others, in the coming years.<br /><br />The acquisition is second major buyout by Cipla in its 80 year history after the takeover of Cipla Medpro, South Africa.<br /><br />Cipla said the combined revenue for the two US-based firms for the year-ended 2015 is over USD 230 million.<br /><br />Combined with the pipeline of InvaGen products, the overall portfolio will be wide-ranging and will cover chronic therapies like CVS, CNS, respiratory, oncology and diabetes among others.<br /><br />The acquisition of InvaGen pharmaceuticals also provides Cipla with about 40 approved ANDAs, 32 marketed products, and 30 pipeline products which are expected to be approved over the next 4 years, the company said.<br /><br />In addition, InvaGen has filed five first-to-file products. Dosage forms include immediate release, modified release and extended release tablets and capsules. InvaGen has three units located in Long Island, NY, with a total production capacity of 12 billion tablets and capsules per annum and about 500 employees.<br /><br />With this acquisition, Cipla will have more relevance to wholesale and retail customers, the company added.<br /><br />Shares of Cipla were trading at Rs 523.75 in the mid-day trade, up 0.78 per cent from the previous close on BSE.</p>