Novartis: sells parts of Sandoz US portfolio to Aurobindo
(CercleFinance.com) - Novartis has said that it has agreed to sell Sandoz' US dermatology business and generic US oral solids portfolio to Aurobindo for 900 million dollars in cash, plus 100 million dollars of potential earn-outs.
The portfolio to be sold includes approximately 300 products, such as Sandoz's US generic and branded dermatology businesses, as well as its dermatology development center.
As part of the transaction, Aurobindo will also acquire the business' manufacturing facilities in Wilson, North Carolina, along with those in Hicksville and Melville, New York.
Sandoz said the transaction supports its strategy of focusing on "complex generics," while sharpening its portfolio focus in the US.
The transaction is expected to close in 2019.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The portfolio to be sold includes approximately 300 products, such as Sandoz's US generic and branded dermatology businesses, as well as its dermatology development center.
As part of the transaction, Aurobindo will also acquire the business' manufacturing facilities in Wilson, North Carolina, along with those in Hicksville and Melville, New York.
Sandoz said the transaction supports its strategy of focusing on "complex generics," while sharpening its portfolio focus in the US.
The transaction is expected to close in 2019.
Copyright (c) 2018 CercleFinance.com. All rights reserved.