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

Show Comments
Hide Comments

Join the discussion

We welcome your thoughtful comments.
All comments will display your user name.

Want to participate in the discussion?

Register for free

Log in for complete access.


No one has commented on this page yet.

RSS feed for comments on this page | RSS feed for all comments