Novartis to spin off Sandoz, list it in Zurich

2022.08.25 08:34

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FILE PHOTO: The company’s logo is seen at the new cell and gene therapy factory of Swiss drugmaker Novartis in Stein, Switzerland, November 28, 2019. REUTERS/Arnd Wiegmann

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ZURICH (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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