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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.
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.
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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.
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 ...
Alcon, which started in Fort Worth and has grown to become the world’s largest eye care device company, is looking to invest an estimated $100 million to build a 250,000-square-foot ...
Nestlé owned 100% of Alcon in 1978. In 2002 Nestlé sold 23.2% of its Alcon shares on the New York Stock Exchange. In 2008 Nestlé sold 24.8% of existing Alcon shares to the Swiss pharmaceutical giant Novartis. In 2010 Nestlé sold the remaining 52% of its Alcon shares to Novartis. Novartis paid a total of 39.1 bn USD. Former brands
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 ...