Aurobindo, Sandoz call off 900 million US dollar deal
New Delhi: Aurobindo Pharma on Thursday said the USD 900 million deal to acquire Sandoz Inc''s US-based generic oral solids and dermatology businesses, has been mutually called off.
"The decision was taken as approval from the US Federal Trade Commission for the transaction was not obtained within anticipated timelines," Aurobindo Pharma said in a regulatory filing.
In September 2018, Aurobindo Pharma had said its US subsidiary has entered into a pact to acquire commercial operations and three manufacturing facilities in America from Sandoz Inc, USA, for USD 900 million.
The acquisition was to be made through its wholly-owned subsidiary, Aurobindo Pharma USA Inc.
The transaction if completed would have positioned the Hyderabad-based firm as the second largest dermatology player and the second-largest generics company in the US by prescriptions.
Aurobindo Pharma Limited, headquartered at Hyderabad, India, manufactures generic pharmaceuticals and active pharmaceutical ingredients. The company's manufacturing facilities are approved by several leading regulatory agencies like US FDA, UK MHRA, Japan PMDA, WHO, Health Canada, MCC South Africa, ANVISA Brazil.
The company's robust product portfolio is spread over 7 major therapeutic/product areas encompassing Antibiotics, antiretrovirals, CVS, CNS, Gastroenterologicals, Anti-Allergies and AntiDiabetics, supported by an outstanding R&D set-up. The Company is marketing these products globally, in over 150 countries.