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Novartis to spin off generics business Sandoz next year

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Completion was expected in the second half of next year, the Swiss pharma group said.
Arnd Wiegmann | Reuters

Novartis said on Thursday it would spin off Sandoz and list it on the Swiss stock exchange to create the No.1 European generics company.

“For both the innovative medicines and Sandoz businesses, the spin-off would enable enhanced focus and the ability to pursue independent growth strategies,” the Swiss pharma group said in a statement.

Completion was expected in the second half of next year, it added.

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