Sandoz acquired the Japanese business from Aspen Global Incorporated (AGI).
Sandoz pays up to 400 million euros. AGI is a wholly-owned subsidiary of Aspen Pharmacare Holdings Limited, generic pharmaceutical subsidiary Novartis said on Monday.
The acquisition consists of shares in Aspen Japan K.K. and related assets. Sandoz will make an initial cash settlement of 300,000,000,000 after the transaction. In addition, the company has agreed to do so, under certain conditions deferred payments of up to 100 million euros. The closing of the transaction depends on the satisfaction of certain dubious conditions and expectations in the first half of 2020.
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Acquisition of Aspen, Japan could expand to have the third largest market in the world. The acquisition added an additional portfolio and pipeline of generic and biosimilar products for hospitals with its own distribution, marketing and medical organization. ] At noon, Novartis shares in Swiss trading rose 1.31 percent to CHF 88.65.