Cipla, a leading drug maker, witnessed a rise in share price on Friday after the company's wholly owned subsidiary  Cipla (EU) U.K. has entered into definitive agreements to acquire 100% stake in two US based companies, InvaGen Pharmaceuticals Inc. and Exelan Pharmaceuticals Inc for USD 550 million.

As per the agreement, the cash consideration payable for Invagen is USD 500 million and for Exelan is USD 50 million.

Shares of Cipla are trading at Rs 663.50, up Rs 6.65, or 1.01% at the Bombay Stock Exchange (BSE) on Friday at 10:18 a.m.

Total volume of shares traded on the bourses today was lower by 18.51% to 1,689,369 compared with 22-day average volume of 2,073,216.