Sandoz Sees Aurobindo Deal Collapse As ‘Opportunity’
Termination Of $1bn Deal Will Allow Firm To ‘Optimize US Business’
Sandoz says closing the door on its proposed deal with Aurobindo will open up opportunities for the Novartis subsidiary to optimize its US business, as global sales for Sandoz shot up by around a tenth in the first quarter of 2020 on the back of a COVID-19 boost and a leap of almost a third in Biopharmaceuticals sales.
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Sandoz saw both its sales and core operating profit experience double-digit drops in what management described as a “challenging” first quarter of 2021. However, its performance is expected to stabilize in the back end of the year as pandemic-related pressures ease.
Coronavirus-induced stockpiling and advanced prescribing of medicines has resulted in generics companies across the world registering unprecedented growth during the first quarter of 2020. However, many companies predict sales will level off again in the next quarter and beyond. And as demand fluctuates following the COVID-19 outbreak, companies have started taking precautionary measures to avoid supply-chain disruptions.
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