Cipla to acquire two US-based pharma cos for $550 million

Cipla Ltd, India's fourth-largest drugmaker by sales, said on Friday it has agreed to buy two generics businesses in the United States in an all-cash deal worth $550 million to get access to a wide range of products.

The companies to be acquired, InvaGen Pharmaceuticals Inc and Exelan Pharmaceuticals Inc, had combined sales of $225 million in the last twelve months to June 2015, Cipla said in a statement.