Indian Pharmaceutical giant Cipla Ltd, has acquired 2 US generic drug companies, InvaGen Pharmaceuticals Inc. and Exelan Pharmaceuticals Inc. This step has been taken to increase its revenue and introduce new products for oncology and diabetes in the world’s largest pharmaceutical market.
In this regard, Cipla has closed the transaction of the deal through its wholly-owned subsidiary, Cipla (EU) Ltd. The combined revenue for the two US companies at the end of year 2015 was over 230 million dollars. The acquisitions will give scale to Cipla’s US business currently 8% of total revenue. This is the second large scale acquisition in Cipla’s 80 year history and the first was South Africa’s Cipla Medpro.
The acquisition of InvaGen pharmaceuticals also provides Cipla with about 40 approved Abbreviated New Drug Application (ANDA), a U.S. generic drug approval for an existing licensed medication or approved drug, 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.
Extra Info :
Headquarter of Cipla : Mumbai
CEO of Cipla : Subhanu Saxena
So lets discuss some questions related to this article which can be asked in the upcoming exams :
1. Expand the term ANDA.
2. Which company has acquired two US generic drug companies recently ?
3. Cipla Ltd is related to which industry ?
Courtesy : The Hindu