Sandoz signs binding agreement to acquire Aspen Global's Japanese business
13 November 2019 -

Sandoz, a division of Novartis, has signed a binding agreement to acquire Aspen Global's Japanese business.

It was reported yesterday that the deal is valued at around EUR400m. Under the terms of the contract, Aspen will receive an initial cash consideration of EUR300m from Sandoz on closing. Aspen will also receive deferred consideration up to EUR100m, based on the fulfilment of certain condition after closing. The transaction is likely to be completed in the first half of 2020, subject to certain customary conditions.

The scope of the deal covers the acquisition of shares in Aspen Japan and associated assets held by Aspen Global. The acquisition of Aspen Global's business is intended to enable Sandoz to expand its operations in the third-largest worldwide generics marketplace.