The acquisition will provide a launch pad to introduce Cipla’s pipeline of products in respiratory and injectables, among others, in the coming years
Cipla’s UK arm, Cipla (EU) has closed the transaction to acquire two US-based companies, InvaGen Pharmaceuticals and Exelan Pharmaceuticals. The acquisition was made by Cipla (EU) through a wholly-owned special purpose vehicle which would merge into InvaGen Pharmaceuticals after the acquisition. The combined revenue for the two companies for the year-ended 2015 is over $230 million.
The acquisition will give scale to Cipla’s US business — currently eight per cent of total revenue as well as providing a launch pad to introduce Cipla’s pipeline of products in respiratory and injectables, among others, in the coming years. Combined with the pipeline of InvaGen products, the overall portfolio will be wide-ranging and will cover chronic therapies like CVS, CNS, respiratory, oncology and diabetes among others.
The acquisition of InvaGen pharmaceuticals also provides Cipla with about 40 approved ANDAs, 32 marketed products, and 30 pipeline products 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, NY, with a total production capacity of 12 billion tablets and capsules per annum and about 500 employees. With this acquisition, Cipla will have more relevance to wholesale and retail customers.