Aurobindo Pharma launches $1.6 billion bid for Novartis unit
Hyderabad-based Aurobindo Pharma has placed an initial bid to buy Swiss drugmaker Novartis' dermatology generics drug unit for about $1.6 billion, according to reports. Aurobindo is reportedly the only Indian company that has submitted a bid for the business operating under the Sandoz brand. If the deal goes through, it will be the largest overseas acquisition by an Indian drugmaker.