Novartis division Sandoz has acquired the Japanese business of Aspen Global Incorporated (AGI), bolstering its biosimilar and generics presence in the region.
South African pharma firm Aspen Holdings opened the Japanese subsidiary Aspen Japan K.K. in May 2015, with an aim bring its oncology, immunosuppressant, anti-inflammatory, hypertension, and anticoagulant products to the market.
Today, Sandoz, the generics and biosimilar division of Swiss Biopharma firm Novartis, has announced it will pay an initial €300 million ($330 million) to buy shares in Aspen Japan K.K. and associated assets held by AGI, and has also agreed to pay certain deferred consideration to AGI up to €100 million, reliant on certain undisclosed conditions.
The deal, expected to close in the first half of 2020, will expand Sandoz’ presence in what it describes as “the third largest worldwide generics marketplace.”
Sandoz CEO Richard Saynor said: “The acquisition of Aspen’s Japanese operations would significantly strengthen our position in this country, a stable but growing generics market. We are committed to helping address patient and customer needs in the market as we aspire to become the world’s leading and most valued generics company.”