Cipla to acquire InvaGen, Exelan

MUMBAI, India — Cipla is continuing to expand its U.S. footprint as the company announced Tuesday that it would be acquiring generic drug companies InvaGen Pharmaceuticals and Exelan Pharmaceuticals in a $500 million, all-cash transaction. The acquisitions will bring InvaGen’s 32 products and 40 approved abbreviated new drug applications, as well as Exelan’s management team and institutional market under the company’s control. 

“We are delighted with the immediate and substantial relevance this combination brings to Cipla in the USA,”Cipla USA director and North America CEO Tim Crew said. “We are committed to an orderly transition process with customers and InvaGen to ensure the on-going continuity of a high quality and reliable supply to our customers and their patients” 

The acquisition also gives the India-based company a larger generics footprint in the American market, as Cipla USA launched its own label products in January.