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CIPLA on the move to 100 % acquire two generic businesses in US
The Indian Pharmaceutical Giant, CIPLA has today announced that its UK arm, Cipla EU has entered into definitive agreements is in the process to acquire twoUS-based companies, InvaGen Pharmaceuticals Inc., and Exelan Pharmaceuticals Inc. The transaction being subject to certain closing conditions( including the expiration of the waiting period under the Hart-Scott-Rodino...
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 4 years. They represent a balanced, diversified and growing portfolio targeting highly attractive, large and niche markets. In addition, InvaGen has filed 5 first-to-file products which represent a market size of ~$8 billion in revenue by 2018. 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 3 units located in Long Island, NY, with a total production capacity of 12 billion tablets and capsules per annum and about 500 employees. This acquisition further provides Cipla with an access to large wholesalers/retailers in the US.
The acquisition of Exelan Pharmaceuticals provides Cipla access to the government and institutional market in the US through Exelan's deep expertise, engagement and experienced management team in the business.
Commenting on the acquisition, Mr. Subhanu Saxena, MD & Global CEO, Cipla Limited said: "This investment is in line with Cipla's strategy to grow Cipla's share in the US pharmaceutical market. We see InvaGen as a strong strategic fit with a relevant diverse portfolio as well as a strong market and customer presence. With a local manufacturing facility, Cipla can further strengthen its presence and commitment to serve patients in the country."
Tim Crew, CEO North America and Director of Cipla USA Inc. added: "We are delighted with the immediate and substantial relevance this combination brings to Cipla in the USA. 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"
Dr. Sudhakar Vidiyala, President and CEO, InvaGen Pharmaceuticals Inc., commented: "This is an exciting opportunity for InvaGen to join with Cipla. InvaGen brings an experienced team and good manufacturing capabilities to the partnership. We are confident that the combination of InvaGen and Cipla will significantly enhance the product portfolio offering, including specialty products, to the US patients and will give InvaGen access to Cipla's global expertise and presence."
Meghna A Singhania is the founder and Editor-in-Chief at Medical Dialogues. An Economics graduate from Delhi University and a post graduate from London School of Economics and Political Science, her key research interest lies in health economics, and policy making in health and medical sector in the country.She is a member of the Association of Healthcare Journalists. She can be contacted at editorial@medicaldialogues.in. Contact no. 011-43720751