Sandoz, A Division Of Novartis, Signed An Agreement Worth $500m To Acquire Cephalosporin Antibiotics Business Of GSK.
Sandoz, A Division Of Novartis, Has Signed An Agreement Worth $500m To Acquire The Cephalosporin Antibiotics Business Of GSK To Strengthen Its Global Position In Antibiotics. The deal consists of the global rights to the Zinnat, Zinacef and Fortum brands in over 100 markets. It excludes the rights in the US, Australia and Germany to certain of those brands divested by GSK and in India, Pakistan, Egypt, Japan (to certain of the brands) and China, which GSK will retain.
According to the deal, GSK will receive $350m from Sandoz at closing. It is also eligible for additional milestone payments of up to $150m, subject to certain terms. As part of its integrated manufacturing strategy, Sandoz plans to produce Zinnat at sites in its network, which has worldwide antibiotics production centred on its lead production site in Kundl, Austria. On concluding the deal, GSK will deliver Zinnat to Sandoz under a manufacturing and supply agreement (MSA), while supporting related manufacturing operation transfer to Sandoz.
Sandoz CEO Richard Saynor said: “This important transaction will further position Sandoz as a global leader in antibiotics – truly essential medicines that are the backbone of modern healthcare systems. “Cephalosporins are the largest antibiotic segment by global sales and acquiring this leading business, including the established global Zinnat brand, will complement our #1 position in generic penicillins, the other key segment.”
This news was published at Pharmaceutical Technology.