Sandoz Sets Generics Focus As US Sale Awaits
Believes Clearance For US Divestment To Aurobindo Is Imminent
New Sandoz chief Richard Saynor says the division is undergoing a transformation towards building a generics-focused business. Meanwhile, the company is still waiting to close the sale of its US oral-dose and dermatology operations to Aurobindo.
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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.
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