Novartis Scraps $1 Billion Sandoz Sale to Aurobindo

Novartis and Aurobindo have terminated their $1 billion deal to sell the Sandoz U.S. generic oral solids and dermatology business to Aurobindo.

The companies said the decision was made because the Federal Trade Commission did not give its approval for the transaction within the anticipated timeline.

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