Announced
Completed
Financials
Sources
Tags
Majority
Domestic
Spin Off
Demerger
Pharmaceuticals
Switzerland
biosimilars
Public
Friendly
Single Bidder
generic pharmaceuticals
Completed
Synopsis
Novartis, a Swiss-American multinational pharmaceutical corporation, completed the spin-off Sandoz, its generics and biosimilars division, into a new publicly traded standalone company, in an $11.4bn deal. The spin-off aims to maximize shareholder value by creating the #1 European generics company and a global leader in biosimilars, allowing Novartis shareholders to participate fully in the potential future upside for both Sandoz and Novartis Innovative Medicines.
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