Mumbai-based Cipla announced a $550-million completed acquisition of U.S. generic drug makers InvaGen Pharma and Exelan Pharma.
The deal, designed to boost Cipla's U.S. business, brings with it InvaGen's 350,000 sq. ft. of manufacturing space on Long Island, NY and 40 approved ANDAs, 32 marketed products, and 30 pipeline products which are expected to be approved over the next 4 years.
The acquisition also included Georgia-based Exelan Pharmaceuticals, which markets and sells InvaGen generics to government and institutional markets. The combined 2015 revenue for the two companies was over 230 million.
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