Hyderabad-based Aurobindo pharma has acquired Sandoz Inc’s dermatology and oral solid business for $900 million in cash. Sandoz is a subsidiary of Swiss drug maker Novartis.
The transaction will position Aurobindo as the second largest generic player in the US by prescriptions. It is expected to be completed by end of 2019.
For Aurobindo, the deal will add approximately 300 products in the US.
Govindarajan, Managing Director of Aurobindo, said, "The acquisition announced today is in line with our strategy to grow and diversify our business in the US. Acquiring these businesses from Sandoz will allow us to further expand our product offering and to become a leading player in the generic dermatology market.”
"As we have done in some of our previous acquisitions, we will be focused on leveraging our Group's market-leading vertically integrated and highly efficient manufacturing base to enhance the market position and medium-term profitability of the businesses we are acquiring," Govindarajan further added.
Some of the products which are included in the deal are topical antibiotics, gynaecological and dermatological antifungal agents, anti-acne agents, local anaesthetic analgesics, anti-itch, and dermatological chemotherapeutic agent.
