Posted on 19/04/2010 in Pharmacy Supplier News Sandoz is to expand its portfolio of generic medicines after agreeing a deal to acquire respiratory products specialist Oriel Therapeutics.
The agreement will see Sandoz gain the rights to three potentially promising developmental treatments in the fields of asthma and chronic obstructive pulmonary disease.
In addition, Sandoz will also take control of Oriel's new FreePath drug delivery technology, while Oriel itself is to be integrated as a separate development unit within its new parent company.
Jeff George, division head at Sandoz, said the acquisition supports its objective of developing substitutable generic versions of branded medicines in the respiratory disease sector.
He added: "Oriel is a strong strategic fit with Sandoz and the acquisition is expected to support our strategy of increasing the number of differentiated, higher-value products in our development pipeline."
According to parent company Novartis' most recent financial breakdown, Sandoz experienced four quarters of growth in 2009, leading to higher levels of profitability compared to the previous year.Other news stories from 19/04/2010
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