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Finance Watch: Novartis Sets October Separation Date For Sandoz Spin-Off

Generics Firm Will List On Swiss Exchange

 
• By Mandy Jackson

Novartis revealed detailed terms and a 4 October spin-off date for Sandoz’s standalone debut. Also, MIRA launched a small IPO, but two firms plan to go public in SPAC mergers. Also, Mirati’s $345m offering leads follow-ons offerings and Sangon Biotech raised $290m in venture capital.

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Novartis AG outlined the details of its spin-off plans for its generics and biosimilars business Sandoz on 18 August, revealing the financial terms for the big pharma’s shareholders and the date of the official separation: 4 October. Shareholders will vote on the plan at an extraordinary general meeting scheduled for 15 September.

The Swiss pharmaceutical giant has been grappling for some time with just how it could focus its resources on innovative...

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