Cipla unit gets termination notice on Rs 1560 crore acquisition deal with Avenue Therapeutics
In November 2018, Cipla had announced that InvaGen Pharmaceuticals Inc has entered into definitive agreements to acquire US based speciality business firm Avenue Therapeutics for up to USD 215 million (around Rs 1,560 crore).
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New Delhi: Drug major Cipla on Wednesday said its subsidiary InvaGen Pharmaceuticals has received a notice from US-based Avenue Therapeutics for termination of the acquisition deal they inked in 2018.
In November 2018, Cipla had announced that InvaGen Pharmaceuticals Inc has entered into definitive agreements to acquire US-based speciality business firm Avenue Therapeutics for up to USD 215 million (around Rs 1,560 crore).
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