Generic pharmaceuticals manufacturer Aurobindo Pharma Limited on Thursday announced it would acquire dermatology and oral solids business from the U.S.-based Sandoz Inc.

According to a press release, an agreement has been signed by the two companies and the acquisition would be facilitated by means of its subsidiary Aurobindo Pharma U.S.A. Inc. Both the companies would enter into a transactional services agreement to support the growth plans of the business.