Swiss Novartis to sell parts of Sandoz U.S. for $900 mln

Switzerland-based pharmaceuticals company Novartis to sell the dermatology and generic oral solids portfolios of U.S. Sandoz to Indian peer Aurobindo Pharma for $900 million, as the Swiss drugmaker looks to focus on higher growth areas.

The deal also includes about 300 products and additional development projects of Sandoz and an additional $100 million in performance-based payments.

As part of the transaction, Aurobindo Pharma USA Inc, a unit of the India-based company, will acquire the plants in Wilson, North Carolina, as well as Hicksville and Melville, New York

Through this transaction, Sandoz is refocusing its business but also striving to ensure continuity of supply of important long-used generic medicines for patients and customers in the U.S.