Novartis terminates sale of Sandoz U.S. generic oral solids, dermatology portfolio to Aurobindo

Novartis' deal to sell Sandoz U.S. generic oral solids and dermatology businesses to Aurobindo has been called off.

Novartis recently announced the mutual agreement with Aurobindo to terminate the agreement to sell the Sandoz U.S. generic oral solids and dermatology businesses to Aurobindo.

Novartis attributed the decision to the fact that approval from the Federal Trade Commission for the transaction was not obtained within anticipated timelines.

Sandoz will continue to operate its oral solids and dermatology business as part of the Sandoz U.S. business.