- Aurobindo Pharma and Novartis have called off their nearly $1 billion deal pertaining to U.S. generic oral solids and dermatology businesses of Sandoz.
- This decision was taken as approval from the U.S. Federal Trade Commission for the transaction was not obtained within anticipated timelines.
- Novartis had agreed to sell selected portions of its Sandoz U.S. portfolio, specifically the Sandoz U.S. dermatology business and generic U.S. oral solids portfolio, to Aurobindo Pharma USA Inc., for $900 million in cash plus $100 million of potential earn-outs.