Aurobindo Pharma on Thursday said its US subsidiary has entered into an agreement to acquire commercial operations and three manufacturing facilities in the US from Sandoz Inc, USA, a Novartis Division, for USD 900 million.
According to a regulatory filing with stock exchanges, this business has been carved out by the management of Sandoz for sale and is consisting of dermatology and oral solids businesses.
The acquisition will add approximately 300 products including projects in development as well as commercial and manufacturing capabilities in the US, complementing and expanding the group’s portfolio and pipeline.
Commenting on the transaction, Managing Director of Aurobindo, N Govindarajan said the acquisition is in line with the company’s strategy to grow and diversify 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,” he said.