Pharma BD Deal Intelligence
Sabex gave Novartis/Sandoz the top spot in Canadian injectable generics, but the plant became a 20-year headache — a 2011-12 FDA warning letter triggered a national Canadian drug shortage, a botched 2018 divestiture to Avara collapsed into receivership, and Sandoz fully exited the site by 2022.
Full analysis, sources & comparables →The acquisition of Sabex would add $90 million in sales to Novartis' generic drug unit, Sandoz, which had sales of $2.9 billion in 2003.
We're very proud of Sandoz Canada's progress over the past 10 years and we wanted to celebrate this success with everyone who contributed to it!
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Canadian generic injectables; integrated into Sandoz; $565M cash
Sabex gave Novartis/Sandoz the top spot in Canadian injectable generics, but the plant became a 20-year headache — a 2011-12 FDA warning letter triggered a national Canadian drug shortage, a botched 2018 divestiture to Avara collapsed into receivership, and Sandoz fully exited the site by 2022.
Assessment window: 15yr post-close.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Novartis AG / Sabex Holdings Ltd. (this deal) | 2004 | $565M | 40 |
| Novartis AG / Advanced Accelerator Applications S.A. | 2017 | $3.9B | 98 |
| Novartis AG / Endocyte, Inc. | 2018 | $2.1B | 96 |
| Novartis AG / Lek Pharmaceuticals d.d. | 2002 | $876M | 88 |
| Novartis AG / GlaxoSmithKline plc | 2014 | $16.0B | 81 |
| Novartis AG / PTC Therapeutics Inc. | 2024 | $2.9B | 80 |
| Novartis AG / Chinook Therapeutics Inc. | 2023 | $3.5B | 78 |
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More: 2004 deals · Novartis AG deals