Beximco expands US portfolio with buy of eight ANDAs
In another sign that Sandoz is moving away from straight generics to focus on biosimilars, the company has off-loaded eight Abbreviated New Drug Applications (ANDAs) in the USA to Bangladesh-based generics drugmaker Beximco Pharmaceuticals (AIM: BXP).
Financial terms of the deal between Sandoz, a unit of Swiss pharma giant Novartis (NOVN: VX) and Beximco have not been revealed, nor were details of which generic products are included in the transaction.
Beximco Pharma’s current US portfolio comprises six US Food and Drug Administration approved products. Four of these products are currently being exported to the USA and two products are awaiting regulatory approval. Following this transaction, Beximco Pharma’s US portfolio will consist of 14 approved ANDAs.
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