Aurobindo Upbeat On Outlook As It Moves To Close Sandoz Deal
India's Aurobindo says it is betting its $1bn purchase of Sandoz' US dermatology assets will help “really fuel growth” and that the company's biggest acquisition should be wrapped up in eight to 12 weeks.
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Aceto has blamed Aurobindo for its downfall, alleging a series of calculated and deceitful actions that have critically wounded the US group’s pharma business. Aurobindo has strongly denied the charges.
Slower sales growth by its Biopharmaceuticals unit amid competitive pressures in the US, combined with weakness in its Retail Generics and Anti-Infectives franchises, led Sandoz to report an overall 8% sales slide in the first quarter of this year.