Aurobindo Pharma buys Sandoz's US business in $900 million deal

In the largest ever overseas pharma transaction, Aurobindo Pharmaceuticals has announced the acquisition of Sandoz's generic business in the US for $900 million.

The deal gives the Hyderabad based company access to Sandoz's portfolio of oral solids and dermatology drugs and manufacturing footprint and makes it the second largest generic player in the US-based on prescriptions. Aurobindo said acqusition will be funded through debt but did not disclose further details in announcement.

In 2015, Lupin had acquired US drug maker Gavis in a $880 million deal making it the largest outbound deal for an Indian pharma company. While Sun Pharma's acquisition of Ranbaxy from Daiichi Sankyo was valued at over $3.2 billion, this was transaction between two home grown companies (one Japanese owned) and included both domestic and overseas business.