Swiss drugmaker Novartis announced plans to spin off its generic and biosimilar unit, Sandoz, to sharpen its focus on innovative therapies. The move aims to maximize shareholder value by listing Sandoz on the SIX Swiss Exchange, positioning it as Europe’s largest generic company and a global biosimilars leader.
Spin-Off Details
The Sandoz spin-off, expected to complete in H2 2023, follows a strategic review. The unit generated USD 9.6 billion in sales in 2021. The separation will allow Novartis to concentrate on high-growth areas, while Sandoz operates independently.
Strategic Focus
Post-spin-off, Novartis will expand in hematology, solid tumors, immunology, neurology, and cardiovascular treatments. The company will also invest in gene and cell therapy platforms, aiming to drive innovation in these fields.-Fineline Info & Tech
