Hotline: 1800 102 2007
X
Search Business Opportunities
Nov, 13 2018

Indian drugmaker Cipla to buy US-based Avenue Therapeutics

Cipla will acquire Avenue, part of Nasdaq-listed Fortress Biotech Inc, in two stages.

Indian drugmaker Cipla Ltd, through its subsidiary InvaGen Pharmaceuticals Inc, will acquire US-based speciality pharmaceutical company Avenue Therapeutics Inc for up to $215 million.

Cipla will acquire Avenue, part of Nasdaq-listed Fortress Biotech Inc, in two stages. Avenue focuses on the development and commercialization of intravenous Tramadol to manage post-operative pain.

Cipla said, "At the first stage closing, InvaGen or its affiliates will acquire, through the issuance by Avenue of new shares, shares representing a 33.3 per cent stake in Avenue’s capital stock on a fully diluted basis for $ 35 million."

Umang Vohra, Managing Director and Global Chief Executive Officer, Cipla, said, "Our investment in and the proposed acquisition of Avenue establishes our presence in the speciality institutional business in the US. This investment is in keeping with our stated intention to build a speciality pipeline in the US market." 

Comment
image
Related opportunities
  • About Us: Namma Theneer Kadai is an established tea house, which..
    Locations looking for expansion Delhi
    Establishment year 2015
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • About Us: Credence International Schools is a K-12 Venture of Credence..
    Locations looking for expansion Maharashtra
    Establishment year 2012
    Franchising Launch Date 2014
    Investment size Rs. 2 Cr. - 5 Cr
    Space required 20000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Tea and Coffee Chain
    About Us: Belief: “as is sound, so as echo” Mission: “best tea every t..
    Locations looking for expansion Maharashtra
    Establishment year 2012
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai Maharashtra
  • About Us: C.H.I.L.D an initiative of Mrs. Kavitha Chandra Mouli hasa..
    Locations looking for expansion Tamil nadu
    Establishment year 2013
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 1500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Chennai Tamil nadu
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities