Fosun joins Aurobindo, PE firms in final bids for Novartis’ $2B U.S. generics assets: report
fiercepharma | May 11, 2018
It turns out India’s Aurobindo is not the only one hot to buy a portfolio of Novartis’ U.S. generic assets, including its dermatology business. China’s Fosun Pharma and private equity firms Apollo Global Management and CVC Capital Partners have also been shortlisted to make final offers, Bloomberg reported, citing people with knowledge of the talks.The combined value of those assets on the for-sale list could reach $2 billion, and a buyer could be determined within the next few weeks, sources told Bloomberg. Novartis has said since at least January that it’s looking to sell its U.S. generics oral solids business and other noncore products to concentrate on higher-margin generics. For the first quarter, Sandoz's sales in the U.S. declined 18% as pricing pressure takes a toll on all generic producers.