Novartis completes Sabex acquisition
The Sandoz generics business unit of Swiss company Novartis has completed the purchase of Sabex Holdings, a leading Canadian generics pharmaceutical manufacturer in a US$565m cash transaction.
The Sandoz generics business unit of Swiss company Novartis has completed the purchase of Sabex Holdings, a leading Canadian generics pharmaceutical manufacturer in a US$565m cash transaction.
The acquisition establishes a new presence for Sandoz in Canada, the sixth largest generics market worldwide, and provides a global growth platform in the fast-growing injectable generics business.
Sandoz is focusing on strong organic growth complemented by strategic acquisitions to gain access to new geographic markets, therapeutic lines, formulations and production capabilities.
Sabex, which is based in Boucherville, Quebec, is a privately held generics manufacturer that offers a broad range of critical care and ophthalmalic medicines as well as suppositories and other products covering more than 80 molecules.