Novartis Confirms Spin-off of Sandoz on October 4, 2023

Novartis has confirmed that it will spin off its Sandoz generics division on October 4, 2023. The spin-off will create two independent companies: Novartis, which will focus on innovative medicines, and Sandoz, which will focus on generics and biosimilars.

The spin-off is part of Novartis’s strategy to focus on its core businesses and to create two more agile and competitive companies. Novartis has said it expects the spin-off to be completed in the first half 2023.

The spin-off of Sandoz will be a major event in the pharmaceutical industry. Sandoz is one of the world’s largest generics companies, and Novartis is one of the world’s largest pharmaceutical companies. The spin-off will create two new independent companies with strong positions in their respective markets.

Novartis has said it expects the spin-off to create value for shareholders and patients. Novartis shareholders will receive one share of Sandoz for every five shares of Novartis that they own. Sandoz will be listed on the SIX Swiss Exchange, with an American Depositary Receipt (ADR) program in the US.

The spin-off of Sandoz is a significant development for the global healthcare industry. It is a sign that Novartis is committed to its core businesses and creating a more competitive and innovative pharmaceutical industry.

The spin-off of Sandoz is also a positive development for patients. It is likely to lead to increased competition in the generics market, which could lead to lower prices for patients.

It will be interesting to see how the two new companies, Novartis and Sandoz, perform in the future. The spin-off may be a success for both companies and patients.