Aurobindo snaps up US businesses from Sandoz
Aurobindo is set to become the second largest generics player in the US by number of prescriptions, and the second largest dermatology player in the US, after agreeing to acquire Sandoz’ dermatology and oral solids businesses inadeal worth US$1.0 billion.
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Sandoz and Aurobindo have mutually agreed to terminate their billion-dollar agreement that would have seen the Indian company acquire Sandoz’ dermatology and oral solids businesses in the US, citing a delay in FTC approval for the deal.
Sandoz says it expects to close the sale of its US dermatology and oral solids business to Aurobindo by the end of the first quarter of 2020, having seen the deal’s completion date pushed back from 2019.
Aurobindo believes it has “substantially addressed” all requirements for an FTC go-ahead for its acquisition of Sandoz’s US dermatology and generic oral solids businesses. The integration of the acquired Apotex business in Europe is also shaping up.