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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.
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.
Alcon: At the time Novartis bought Alcon, they had annual sales of $6.5 billion and a net income of $2 billion. In April 2019, Novartis completed the spin-off of Alcon as a separate commercial entity. Sandoz: As of 2013, Sandoz has been recognized as the world's second-largest generic drug company.
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 ...
The Nasdaq Composite, which tracks the stock performance of the more than 3,000 stocks listed on the exchange, hit a new all-time high (again) this week. This marks the 19th time this year the ...
On a non-GAAP basis, which strips out one-off and non-cash expenses like stock-based compensation, Zscaler's net income soared 86% year over year to $139.8 million. Why Zscaler stock is a buy now
In January 2012, Novo Nordisk was named the most sustainable company in the world by the business magazine Corporate Knights, while spin-off company Novozymes was named fourth. It is a leader in the FTSE4Good Index, and the only European company in the top ten. Novo Nordisk is the largest pharmaceutical company in Denmark.