Aurobindo Says Nothing ‘Extraneous’ Holding Up FTC Nod For Sandoz Deal
Aurobindo believes it has “substantially addressed” all requirements for an FTC go-ahead for its acquisition of Sandoz’s US dermatology and generic oral solids businesses. The integration of the acquired Apotex business in Europe is also shaping up.
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Aurobindo has hit back over rumors that completion of its pending transaction to acquire Sandoz’ US dermatology and oral-solids businesses has been delayed until next year over FTC information requests.
Aurobindo failed to properly investigate problems with carcinogenic impurities in active pharmaceutical ingredients, warning letter says.
Aurobindo is betting big, buying certain portions of Sandoz’s US portfolio in a deal potentially worth $1bn. The acquisition positions the Indian firm in the top league in the overall US generics space by Rx and also segments like dermatology, but much could depend on how effectively Aurobindo delivers on value creation potential amid ongoing price pressures.