Novartis Completes the Spin-Off of Sandoz
A Major Milestone for the Healthcare Industry
Basel, October 4, 2023
Novartis today announced the completion of the spin-off of Sandoz, its generics and biosimilars business. The spin-off was approved by Novartis shareholders at an Extraordinary General Meeting on September 15, 2023.
The spin-off is a major milestone for Novartis, as it allows the company to focus on its core businesses: pharmaceuticals and oncology. Sandoz, on the other hand, will become an independent company focused on providing affordable generic and biosimilar medicines to patients around the world.
The spin-off is expected to benefit both Novartis and Sandoz. Novartis will be able to focus on its core businesses, which have higher margins and growth potential. Sandoz will be able to operate independently, which will give it greater flexibility and agility.
The spin-off is a major step forward for the healthcare industry. It will create two new companies that are better positioned to address the needs of patients around the world.
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