Looks like you’re on the UK site. Choose another location to see content specific to your location

Home Industry News Sandoz completes Oriel Therapeutics takeover

Sandoz completes Oriel Therapeutics takeover

7th June 2010

Sandoz has finalised its buyout of Oriel Therapeutics after fulfilling closing conditions pertaining to its definitive acquisition agreement on April 19th 2010.

The deal, the sum for which was undisclosed, will see the newly-acquired pharmaceuticals company become a separate development unit within Sandoz.

Sandoz states that the takeover will enhance its position in the field of respiratory medicines, giving the company access to products such as the FreePath drug delivery technology and Solis disposable dry powder inhaler.

In addition, Sandoz will also take control of several promising generic treatments for asthma and chronic obstructive pulmonary disease.

Don DeGolyer, president of Sandoz Inc, said: “The closing of the Oriel Therapeutics acquisition is an important milestone in our aspiration to a global leadership position in differentiated, high-value respiratory products.”

Last month, Sandoz was given a recommendation from the National Institute for Health and Clinical Excellence for Omnitrope, the first time the body has ever awarded a recommendation to a biosimilar.

We currently have 9 jobs available in Pharmacy industry, find your perfect one now.

Stay informed

Receive the latest industry news, Tips
and straight to your inbox.