Aurobindo, Sandoz call off $900-mn deal

Hyderabad: City-based Aurobindo Pharma on Thursday said the $900 million deal to acquire Sandoz Inc's US-based generic oral solids and dermatology businesses, has been mutually called off.

"The decision was taken as approval from the US Federal Trade Commission for the transaction was not obtained within anticipated timelines," Aurobindo Pharma said.

In September 2018, Aurobindo Pharma had said its US subsidiary entered into a pact to acquire commercial operations and three manufacturing facilities in America from Sandoz Inc, USA, for $900 million.

The acquisition was to be made through its wholly-owned subsidiary, Aurobindo Pharma USA Inc.