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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.
Alcon was a subsidiary of Novartis until April 2019, when it was spun out into a separate publicly traded company. [3] [4] Alcon itself has a number of subsidiaries, including Aerie Pharmaceuticals , focused on therapies for glaucoma and other diseases of the eye, and WaveLight, which develops and manufactures laser eye surgery technologies.
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 ...
It is also the second-largest pharmaceutical company by market cap in 2019. 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.
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 ...
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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 ...