Sandoz, a division of Novartis, a Swiss multinational pharmaceutical company, agreed to acquire the Japanese unit of Aspen Pharmacare, a multinational South African holding company for pharmaceutical concerns, for $440m. Aspen’s portfolio in Japan consists of off-patent medicines with a focus on anesthetics and specialty brands. “The acquisition of Aspen’s Japanese operations would significantly strengthen our position in this country, a stable but growing generics market. We are committed to helping address patient and customer needs in the market as we aspire to become the world’s leading and most valued generics company,” Richard Saynor, Sandoz CEO.