Novartis Blows Storm Clouds Off Sandoz US In Aurobindo Sale
Novartis's proposed sale of its generic oral solids portfolio – which has been battered by US price erosion – and the Sandoz US dermatology business to Aurobindo Pharma, in a deal potentially worth $1bn, allows the unit to finally concentrate on biosimilars, value-added medicines and complex generics.
You may also be interested in...
Having acquired Alcon for an eye-watering $52bn seven years ago, the Swiss major has decided that spinning off the eyecare business which has finally returned to growth (but is worth about half what Novartis paid in 2011) makes the most sense as it becomes a company even more focused on pharma.
The Swiss major has divested a non-core asset at a decent price and its eye care unit Alcon could be next under the hammer as CEO Vas Narasimhan looks at bolt-on acquisitions to create "the leading medicines company, powered by digital and data."
Teva said its 2018 revenue guidance reflected an April launch for the 40 mg dose of Glatopa, but Sandoz and partner Momenta announced FDA approval and the US launch of their less frequently administered Copaxone generic on Feb. 13.