Cipla Injects Scale With $550m US Buy
This article was originally published in Scrip
Cipla is acquiring the US-based firms InvaGen Pharmaceuticals and Exelan Pharmaceuticals for $550m, a deal which is expected to arm the India company with a ready basket of on-market generic drugs and attractive filings in addition to a manufacturing base as it ramps up in the US.
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Cipla's management sees the firm's profile changing as it scales up its US business with new launches and a step-up in product filing intensity. The Indian company is also "largely done" with a restructuring in Europe that saw a significant cutback in personnel but is expected to make the European business profit-accretive.
Cipla is implementing certain operational fixes and tweaks in its European and emerging markets businesses as it emerges from a weak fourth quarter that saw profits fall sharply, but limited visibility around the firm's Advair generic in certain key markets appeared to fluster some investors.