AUROBINDO PHARMA TO BUY PARTS OF SANDOZ

Novartis will sell Sandoz’s dermatology business and generic oral solids portfolio in the US to India’s Aurobindo Pharma for $900 million in cash and up to $100 million based on performance. The deal will make Aurobindo the second-largest generic player in the US by prescriptions, adding nearly 300 products to the company’s portfolio plus commercial and manufacturing capabilities.