Novartis announced it has agreed to sell selected portions of its Sandoz US portfolio, specifically the Sandoz US dermatology business and generic US oral solids portfolio, to Aurobindo Pharma USA for $0.9 billion of cash plus $0.1 billion of potential earn-outs.
This transaction supports the Sandoz strategy of focusing on complex generics, value-added medicines and biosimilars. The portfolios to be sold to Aurobindo include approximately 300 products, as well as additional development projects. The sale includes the Sandoz generic and branded dermatology businesses as well as its dermatology development center.
As part of the transaction, Aurobindo will acquire the manufacturing facilities in Wilson, North Carolina (USA), as well as Hicksville and Melville, New York (USA).
Aurobindo Pharma Limited is a pharmaceutical manufacturing company headquartered in HITEC City, Hyderabad (India). The company manufactures generic pharmaceuticals and active pharmaceutical ingredients. The company’s area of activity includes six major therapeutic/product areas: antibiotics, anti-retrovirals, cardiovascular products, central nervous system products, gastroenterologicals, and anti-allergics.