Cipla enlarges US footprint

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Indian pharmaceuticals manufacturer Cipla has agreed to purchase two US generics companies for US$550 million. Through its UK arm – Cipla EU – it will fork out US$500 million to take control of InvaGen Pharmaceuticals and US$50 million for Exelan Pharmaceuticals in an all-cash transaction. The deal will give Cipla a foothold in the US generics market through cardiovascular, anti-infective, diabetes and other generics.

The deal is one of the biggest overseas purchases by an Indian pharmaceutical player and is expected to close by the end of the year.

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