Aurobindo Pharma's debt pain recedes after calling off deal with Sandoz

Aurobindo’s acquisition of Sandoz’s dermatology and oral solid generics portfolios in the US — which had been already facing delays — has now been called off.

The company said the decision was taken as approval from the US Federal Trade Commission for the transaction was not obtained within the anticipated timeline.

Aurobindo was scheduled to acquire the portfolio with an upfront purchase price of $900 million in cash, making it the second-largest generics player in the US in terms of number of prescriptions. Therefore, scrapping of the deal is not good news.

The pharma major has had a strategy of turning around acquisitions