In February 2021, Sandoz signed an agreement to acquire GSK’s cephalosporin antibiotics business. In March 2021, Perrigo Company sold their generic drug business to private investment firm, Altaris Capital Partners LLC.
Sandoz antibiotics acquisition
The Sandoz-GSK agreement includes the global rights to three established antibiotic brands (Zinnat®, Zinacef® and Fortum®) in more than 100 markets. In 2020, it was estimated that the brands had combined sales of approximately US$140 million in the relevant markets.
Sandoz is set to pay GSK US$350 million at closing, which is expected to be in late 2021. There will also be additional milestone payments of up to US$150 million, subject to the terms of the transaction.
The agreement excludes the rights to certain of those brands in the US, Australia and Germany, which were previously divested by GSK. In addition, some rights in India, Pakistan, Egypt, Japan and China, will be retained by GSK.
This comes soon after Sandoz’s 2020 announcement that, together with the Austrian government, there would be investment of more than Euros 150 million in the antibiotic manufacturing site at Kundl in Austria. This is intended to strengthen the long-term competitiveness and supply resilience of antibiotics produced at the facility. This new agreement and long-term plans to manufacture Zinnat® at the Kundl site confirm Sandoz’s commitment to grow their antibiotics business.
Those at Sandoz stated that cephalosporins are the largest antibiotic segment by global sales and acquiring this new business will complement their position at the top of the generic penicillin market.
Altaris generics acquisition
Pharmaceuticals company, Perrigo will be selling its generics business to Altaris for US$1.55 billion. In their press release, Perrigo announced that the sale is part of their transformation plan that hopes to establish Perrigo as a company focusing on quality, affordable self-care medications. Perrigo will now have a portfolio with over US$4 billion in revenues focused on self-managed health and wellness.
Those at Altaris stated that their experience in the pharmaceutical sector will enable them to support the generics business as it becomes a standalone company focused on developing and marketing affordable pharmaceutical products. The sale of this arm of Perrigo’s generics business follows the sale of Rosemont Pharmaceuticals, a UK-based generics producer that Perrigo acquired in 2013 [1].
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Reference
1. GaBI Online - Generics and Biosimilars Initiative. Perrigo sells its UK generic drug business [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2021 Mar 12]. Available from: www.gabionline.net/Pharma-News/Perrigo-sells-its-UK-generic-drug-business
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