Novartis to spin off Sandoz

Novartis announced today that it intends to separate Sandoz into a new, publicly traded standalone company through a 100% spinoff.

The spinoff of the generics and biosimilars division of Novartis aims to maximize shareholder value by creating the top European generics company and a global leader in biosimilars, according to a news release. Such a move would allow Novartis shareholders to participate fully in the potential future upside for both Sandoz and Novartis Innovative Medicines, the company said.

Novartis said that its Innovative Medicines and Sandoz businesses would enable enhanced focus and the ability to pursue independent growth strategies through the spinoff.

The company expects Sandoz — which would be headquartered in Switzerland and listed on the SIX Swiss Exchange, with an American Depositary Receipt (ADR) program in the U.S. — to deliver its “next wave of growth” based on its existing biosimilar…

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Novartis mulls sale of $25 billion Sandoz generics arm

On the heels of announcing a restructuring plan that would do away with approximately 8,000 positions, Novartis AG (NYSE:NVS) is reportedly considering spinning off its Sandoz generics arm.

The company is likely to make a final decision by the end of the year, according to Bloomberg.

Given the sluggish state of the economy, Novartis is likely to pursue spinning off its generics business.

The roots of Sandoz stretch back to 1886 as a die maker known as Kern & Sandoz. The company began manufacturing a fever-reducing drug known as antipyrin in 1895, expanding production to encompass ergotamine for migraines by the 1920s.

The Sandoz business unit is worth approximately $25 billion.

In October 2021, Novartis announced that it had begun a strategic review of its Sandoz business unit.

“We continue to view Sandoz as having the potential to be the leading generics company in the world, driven by its biosimilars’ presence and s…

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Sandoz announces in-licensing of Kindeva respiratory inhalation aerosol

Sandoz announced that it is in-licensing the commercial distribution rights to a respiratory inhalation medicine from Kindeva Drug Delivery.

Princeton, N.J.-based Sandoz in-licensed the rights to the brand and authorized generic of Proventil HFDA (albuterol sulfate) inhalation aerosol, which is immediately available to patients in the U.S., according to a news release.

Get the full story at our sister site, Drug Delivery Business News.

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