Posted on 07/06/2010 in Pharmacy Supplier News 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.Other news stories from 07/06/2010
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