No­var­tis can­cels $1B sale of gener­ics af­ter an­titrust con­cerns forced de­lays

No­var­tis has scrapped a gener­ics sale that could have net­ted $1 bil­lion af­ter fail­ing to ob­tain ap­proval from the Fed­er­al Trade Com­mis­sion on time.

CEO Vas Narasimhan first an­nounced the deal to sell 300 prod­ucts from San­doz’ der­ma­tol­ogy and oral solids port­fo­lio in Sep­tem­ber 2018, a few months in­to his tenure. Part of his broad­er cam­paign to re­shape the com­pa­ny in­to a more ag­gres­sive phar­ma play­er fo­cused on new drugs and da­ta sci­ence ca­pa­bil­i­ties that can “reimag­ine med­i­cine.”

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