The Swiss pharmaceutical group Novartis has announced plans to split the Sandoz branch, which specializes in generic drugs, and to list it on the Zurich stock exchange and in the United States. In 2021, Sandoz achieved revenues of $ 9.6 billion. The project must now be approved by Novartis shareholders, who in a note indicated the second half of 2023 if market conditions allow.
In October 2021, Novartis announced that it would review all options for Sandoz. The group had given itself until the end of 2022 to do so. “The examination showed that the spin-off of Sandoz through a full spin-off is in the interest of the shareholders,” Novartis writes today in its statement. This would create the largest generic company in Europe and a world leader in the biosimilar sector. Novartis, in turn, would become a more focused company with this move.