BRIEF—Deal for sale of Sandoz US generics, dermatology portfolio to Aurobindo terminated

Novartis today announced the mutual agreement with Aurobindo Pharma USA Inc to terminate the agreement to sell the Swiss pharma giant’s Sandoz unit’s US generic oral solids and dermatology businesses to Aurobindo Pharma USA Inc.

This decision was taken as approval from the US Federal Trade Commission for the transaction was not obtained within anticipated timelines.

Sandoz will continue to operate its oral solids and dermatology business as part of the Sandoz US business.

The companies first announced in 2018 that Novartis had accepted an offer for India’s Aurobindo to Sandoz’ take ownership of the Sandoz US dermatology business and generic US oral solids portfolio, for $900 million plus up to $100 million in earn-outs.