MUMBAI, Sept 4 (Reuters) - Indian generic drugmaker Cipla Ltd is set to buy the U.S. business of privately held rival Hetero Drugs for about $550 million, the Economic Times newspaper reported on Friday, citing people close to the transaction.
The newspaper said Cipla would buy U.S.-based Camber Pharmaceuticals and InvaGen Pharmaceuticals. (bit.ly/1NdFoyO)
The deal follows Lupin’s planned $880 million acquisition of U.S. generics firm Gavis, as Indian drugmakers seek to strengthen their presence in the key U.S. market.
Cipla and Hetero had no immediate comment. (Reporting by Clara Ferreira Marques; Editing by Gopakumar Warrier)