Aurobindo Pharma and Sandoz Inc. have mutually called off a $900 million deal which was made to acquire the US-based generic oral solids and dermatology businesses of Sandoz Inc. Had the transaction been completed it would have placed the Hyderabad-based firm as the second largest dermatology player and second-largest generics company in the US by prescriptions.
Aurobindo Pharma said “ The decision was taken as approval from the US federal trade Commission as the transaction was not obtained within the anticipated timelines”
The US subsidiary of Aurobindo Pharma and Sandoz Inc., USA had entered into a pact in September 2018, to acquire commercial operations and three manufacturing facilities in America for $900 million. The acquisition was to be made by its wholly-owned subsidiary, Aurobindo Pharma USA Inc.