AsianScientist (Feb. 26, 2016) – Cipla, a global pharmaceutical company, has announced that its UK arm, Cipla (EU) Ltd has closed the transaction to acquire two US-based companies, InvaGen Pharmaceuticals Inc., and Exelan Pharmaceuticals Inc.
Cipla’s portfolio currently includes over 1,500 products across wide range of therapeutic categories with one quality standard globally. This acquisition is the second landmark acquisition in Cipla’s 80 year history. The first was Cipla Medpro, South Africa.
The move will give scale to Cipla’s US business—currently, eight percent of total revenue—as well as provide a launch pad to introduce Cipla’s pipeline of respiratory products and injectables in the coming years.
Combined with the pipeline of InvaGen products, the overall portfolio will offer chronic therapies for cardiovascular disease, oncology and diabetes, among others.
The acquisition of InvaGen pharmaceuticals also provides Cipla with about 40 approved Abbreviated New Drug Applications, 32 marketed products and 30 products in the pipeline, which are expected to be approved over the next four years.
In addition, InvaGen has filed five first-to-file products. Dosage forms include immediate release, modified release and extended release tablets and capsules.
With a manufacturing footprint of ~350,000 sq ft of GMP area, InvaGen has three units located in Long Island, New York with a total production capacity of 12 billion tablets and capsules per annum and about 500 employees.
Commenting on the acquisition, Global Chief Operating Officer of Cipla Limited, Mr. 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 a lever to expand Cipla’s reach in the US market.”
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Source: Cipla.
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