Aurobindo Expects Sandoz Business To Over-Perform
Aurobindo is betting that its $1bn purchase of Sandoz’ US assets will beat its earlier expectations and help to fuel significant growth for the Indian firm. It expects the acquisition, the company’s biggest ever, to close within 8-12 weeks.
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Sandoz and Aurobindo have mutually agreed to terminate their billion-dollar agreement that would have seen the Indian company acquire Sandoz’ dermatology and oral solids businesses in the US, citing a delay in FTC approval for the deal.
FDA Gives Then Rescinds Clearance For Aurobindo Plant
Aurobindo Pharma shares have nosedived after the US Food and Drug Administration said an investigation into one of the Indian drugmaker’s plants was still open, days after issuing a notice giving the site the all-clear.
Aurobindo Expects Sandoz Completion ‘Very Soon’
Aurobindo Pharma says its billion-dollar purchase of Sandoz’s US business is on track for completion “very soon” as it announced net first-quarter net profit that rocketed by nearly 40%, powered by strong US sales.