Novart will sell sands assets to O'Robindo for $900 million

Novarma sold some of its generics business, Sandoz, to O'Robindo for at least $900 million.
said it was divesting Sanders' U.S. dermatology business, which includes about 300 products and research and development programs, as well as generic oral solids, with sales of about $600,000 in the first six months of 2018.
's Dermatology Development Center and wilson's manufacturing facility in North Carolina, as well as Hicksville and Melville, New York, are also included in the sales program.
"this supports Sanders' strategy of focusing on complex generics, value-added drugs and biosimilars." The company noted.
" Strengthening our portfolio focus in the U.S. allows us to invest more time and resources in our strategy of bringing complex generics, value-added drugs and biosimilars to U.S. patients, creating higher value and opening up access to important drugs that really need alternatives." Sanders CEO and Novaral Executive Committee member Richard Francis said.
deal, we not only re-focused our business, but also worked to ensure an important long-term supply of generics to patients and customers in the U.S.," he said.
deal is expected to close next year (the exact time is not yet set), but the customary closing conditions need to be completed. (This net special draft)