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Thursday, April 18, 2024

Novartis is Considering Selling Sandoz or spinning off its Business Next Year

Novartis is reviewing a range of options related to its generic subsidiary Sandoz, including separating or spinning off from the business.

This comes due to mounting price pressures in the off-patent pharmaceutical sector, as the Swiss pharmaceutical giant is focused on developing modern drugs to treat cancer and other diseases.

“We believe now is the time to examine the correct long-term strategic positioning of the Sandoz unit,” Vas Narasimhan, chief executive officer of Novartis, said Tuesday while announcing the company’s business results.

“All options will be on the table – whether to divest Sandoz’s business, or spin it off, through a sale or an IPO,” he added. “A decision must be made by the end of 2022.

The review comes in the wake of moves over the past years to separate Alcon eye care company, which is affiliated with Novartis, as well as give up a stake in the consumer health project.

Efforts to improve Sandoz’s performance have fueled speculation that Novartis will consider carrying out an initial public offering or spinning the company off.

HBC Editors
HBC Editorshttp://www.healthcarebusinessclub.com
HBC editors are a group of healthcare business professionals from diversified backgrounds. At HBC, we present the latest business news, tips, trending topics, interviews in healthcare business field, HBC editors are expanding day by day to cover most of the topics in the middle east and Africa, and other international regions.

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