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Novartis sells parts of Sandoz US to India's Aurobindo for $900 million

Updated : September 06, 2018 10:07 AM IST

 Novartis AG said on Thursday it would sell the dermatology and generic US oral solids portfolios of Sandoz US to India's Aurobindo Pharma Ltd 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, Novartis said.
The 131-year-old Sandoz unit was hurt by price pressure in the United States, prompting Novartis Chief Executive Officer Vas Narasimhan to sell the Sandoz unit.
Novartis sells parts of Sandoz US to India's Aurobindo for $900 million
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