India's Cipla to Buy Two U.S. Generic Drugmakers

Source: Financial Times

Sep 08, 2015

Cipla, India’s fourth-largest drugmaker, will purchase two U.S. generics manufacturers -- InvaGen Pharmaceuticals and Excelan Pharmaceuticals -- for a total of $550 million.

Last year, U.S. sales accounted for only 8 percent of Cipla's revenue and the company is looking to change that going forward. The acquisition will give Cipla access to a wide portfolio of products, including diabetes drugs, antidepressants and cardiovascular medicines.

NY-based generics maker InvaGen has 32 products on the market, while Georgia-based Excelan is a privately held sales company that has sold products made by InvaGen to government buyers.

The buy also comes with InvaGen's 350,000-square-footmanufacturing unit in New York -- Cipla’s first production facility in North America.

Read the Financial Times article

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