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No Cash Boost For Novartis From Sandoz Spin-Off

Swiss Major Did Not Receive Any Formal Bids For Unit

 
• By Kevin Grogan

After a lengthy review, Novartis has confirmed Sandoz will be a publicly traded standalone company listed on the SIX Swiss Exchange, although CEO Vas Narasimhan says he will still consider bids for the division.

Novartis Gehry
The Gehry Buiding on the Novartis campus in Basel • Source: Novartis

With the future of its generics and biosimilars business Sandoz finally decided, Novartis AG CEO Vas Narasimhan says the Swiss major has concluded its journey to become a focused innovative medicines company, but there will be no cash windfall to further boost the firm's R&D budget.

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