New Delhi: 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 a regulatory filing.
In September 2018, Aurobindo Pharma had said its US subsidiary has 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.
The transaction if completed would have positioned the Hyderabad-based firm as the second largest dermatology player and the second-largest generics company in the US by prescriptions.
Updated Date: Apr 02, 2020 13:35:30 IST