Novartis’ generics and biosimilars subsidiary, Sandoz, has completed the acquisition of regional rights to cephalosporins from the British laboratory GlaxoSmithKline (GSK), marketed under three brands.
The operation was announced last February.
The cumulative revenues of Zinnat, Zinacef and Fortum represented last year some 140 million dollars (nearly 130 million francs at the rate of the day) on the markets concerned, recalls the unit of the Rhine pharmaceutical giant in its press release. Monday.
The contract provides for an initial payment of $ 350 million, to which up to $ 150 million may be added depending on the achievement of certain milestones.
In exchange, Sandoz inherits the distribution of these products on around 100 markets, including the United States, Australia and Germany, for which GSK had already sold the rights.
The British firm also retains control over India, Pakistan, Egypt, China and Japan.
Sandoz ultimately intends to produce Zinnat itself for its own outlets. GSK will ensure the supply in the meantime.