Aurobindo, a pharmaceutical manufacturing company headquarter in India, has submitted a bid of roughly $1.6 billion to purchase Novartis’s dermatology generics drug business. 

Novartis has been looking to sell the unit since Nov. 2017. At the time of this announcement, the assets for sale included skin-care treatments and some manufacturing facilities, most of which are based in the U.S..

If successful, the transaction between Aurobindo and Novartis would be the the largest outbound transaction by an Indian drugmaker. 

(Sources: First Word Pharma)