Novartis looks to sell parts of its US generics operations

Switzerland’s Novartis (NOVN: VX) is moving to offload its American dermatology business and oral treatments division, among other assets, for up to $2 billion.

Reports indicate that drugmakers Shanghai Fosun Pharmaceutical (HK: 02196) and Aurobindo Pharma (BSE: 524804), the latter of Hyderabad, India, are throwing their hats into the ring.

Investors Apollo Global Management and Capital Partners are also said to be interested in the assets, which are held by the group’s American generics business Sandoz.