Cipla EU, the UK arm of global pharmaceutical company Cipla, has closed the transaction to acquire two US-based companies – InvaGen Pharmaceuticals and Exelan Pharmaceuticals.
The acquisition will give scale to Cipla’s US business – currently 8 per cent of total revenue – as well as providing a launch paid to increase its pipeline of products in respiratory and injectables, among others, in the coming years. Combined with InvaGen’s products, the overall portfolio will cover chronic therapies like CVS, CNS, respiratory, oncology and diabetes among others.
Acquiring InvaGen 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 acquisition was made by Cipla EU through a wholly owned special purpose vehicle which would merge into InvaGen after the acquisition. It is the second landmark acquisition in Cipla’s 80 year history – the first was Cipla Medpro, South Africa.