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Sandoz, the generic drug arm of Novartis, will purchase privately held Oriel Therapeutics for an undisclosed amount. North Carolina-based Oriel develops generics and drug delivery technologies for inhalable respiratory products. According to figures from metrics firm IMS Health, about half of the drugs in the $32 billion global market for asthma and chronic obstructive pulmonary disease medicines are expected to lose patent protection by the end of 2016. Oriel’s investors might receive additional payments if certain milestones are met.
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