Sandoz And Aurobindo Cancel US Deal
Billion-Dollar US Oral Solids And Dermatology Deal Called Off
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.
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Aurobindo will formalize a succession plan in early December as managing director N Govindarajan, who has spent over a decade at the company, is set to move on. Meanwhile, though a settlement has been reached for generic Revlimid launch plans, development of a COVID-19 vaccine with partner Vaxxinity has hit a major roadblock.
Novartis finally has confirmed plans to begin a strategic review for its Sandoz generics and biosimilars business, following years of conjecture and suggestions from the market. However, the originator stressed that it will take its time with a decision, while underlining that keeping Sandoz is among its choices.
ANI Pharmaceuticals has added to its branded portfolio by acquiring several dermatology brands from Sandoz in the US.