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The debut made Sandoz the largest new entrant to the Swiss stock exchange since 2019, when another Novartis spin-off, eyecare company Alcon, was valued at about 28 billion francs.
Novartis announces that it will spin-off its ophthalmology division, Alcon, into a separately-traded standalone company in order to focus on its legacy pharmaceuticals business.
On July 8, 2010, Alcon's independent director committee (IDC) had set up a $50 million litigation trust to ensure company's minority shareholders get the best deal from bidder Novartis AG. On April 9, 2019, Alcon completed a 100% spin-off from Novartis. The new standalone company is worth up to 28 billion Swiss francs.
Sandoz Group AG is a Swiss company that focuses on generic pharmaceuticals and biosimilars. [4] Prior to October 2023, it was part of a division of Novartis that was established in 2003, when Novartis united all of its generics businesses under the name Sandoz. Before this, the company existed as an independent pharmaceutical manufacturer until ...
Novartis's businesses are divided into two operating divisions: Innovative Medicines and Sandoz (generics). The eye-care division Alcon was spun off into an independent company in April 2019. In August 2022, Novartis announced plans to spin off Sandoz as part of restructuring. The spin-off was completed in October 2023.
Novartis (NVS) gets a boost from strong performance of new drugs. Strategic acquisitions to foray into promising areas has also boosted investor sentiment. Novartis (NVS) Benefits From New Drugs ...
Spin-off entity Transaction value (in billions USD) Inflation adjusted (in billions 2022 USD) Ref 1 2024 General Electric Company: GE Aerospace, GE Vernova, GE Healthcare: 191 191 2 2008 Altria Group: Philip Morris International: 108 141 3 2000 BCE: Nortel: 60 97 4 2013 Abbott Laboratories: AbbVie: 56 67 5 2015 eBay: PayPal: 49 58 6 2007 Altria
ZURICH/LONDON (Reuters) -Novartis plans to spin off its underperforming generics unit Sandoz to sharpen its focus on its patented prescription medicines, the Swiss group said on Thursday ...