Sandoz acquires Japanese operations from Aspen Global Incorporated (AGI).
Sandoz pays up to EUR 400 million. AGI is a wholly-owned subsidiary of Aspen Pharmacare Holdings Limited, the generic subsidiary told drug giant Novartis on Monday.
The acquisition consists of shares in Aspen Japan K.K. and related assets. Sandoz will make an initial cash settlement of EUR 300 million after the end of the transaction. In addition, the company has agreed to make certain payments of up to EUR 100 million under certain conditions. The closing of the transaction is subject to certain suspended conditions being met and expected during the first half of 2020.
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With the acquisition of Aspen & # 39; s Japan business, Sandoz could expand presence on the world's third largest generic marketplace. The acquisition further complements the portfolio and pipeline of generic and biosimilar products for hospitals with their own distribution, marketing and medical organization.
Aspen & # 39; s portfolio consists of non-proprietary drugs focused on anesthetic drugs and specialty brands.  At noon, Novartis shares in Swiss trading rose 0.78 percent to CHF 88.18.