Aurobindo terminates $900-million Sandoz product acquistion deal

A mutual decision to cancel the agreement was taken as approval from US Federal Trade Commission was not obtained within anticipated timelines

Indian drug major Aurobindo Pharma on Thursday announced the termination of a $900-million buyout agreement it had entered into with Sandoz for its US generic oral solids and dermatology businesses in September 2018.
 

A mutual decision to terminate the agreement was taken as the approval for the transaction from the US Federal Trade Commission was not obtained within the anticipated timeline, Aurobindo said in a filing.
 

Though the wait for the nod to conclude the transaction was extended multiple timelines in the past 19 months, Thursday’s announcement came as a surprise, because the Aurobindo leadership had as recently as the