Sandoz/Novartis buy Oriel Therapeutics, gaining rights to portfolio of products targeting asthma and COPD

Swiss drug major Novartis' generics subsidiary Sandoz has signed a definitive agreement to acquire Oriel Therapeutics, a privately-held US company, gaining exclusive rights to a portfolio of generic drug candidates and related technologies targeting medicines in the inhalable respiratory drug market, notably asthma and chronic obstructive pulmonary disease (COPD). Financial terms of the deal were not disclosed.

However, it was noted that Oriel's owners are eligible for additional payments, which are contingent on the achievement of various milestones related to the technical development of these projects as well as regulatory approvals and market launches. Oriel's owners would also be eligible for sales royalties. This transaction is subject to customary closing conditions. Details of Oriel's development programs, including anticipated timing of future regulatory submissions, are not being revealed for competitive reasons.

"Oriel is a strong strategic fit with Sandoz and the acquisition is expected to support our strategy of increasing the number of differentiated, higher-value products in our development pipeline," said Jeff George, division head Sandoz. "One of our strategic objectives is to offer fully-substitutable generic versions of key branded medicines, including respiratory medicines. This is a key area of focus that complements our global leadership position in biosimilars and complex injectables," he added.