Solutions For RealSolutions For Real
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans

Subscribe to Updates

Get the latest finance news and updates directly to your inbox.

Top News

Summer Financial Checklist

July 1, 2025

3 Gently Used Cars You Can Still Buy for Under $20,000

July 1, 2025

20 Companies With Permanent Remote Jobs

July 1, 2025
Facebook Twitter Instagram
Trending
  • Summer Financial Checklist
  • 3 Gently Used Cars You Can Still Buy for Under $20,000
  • 20 Companies With Permanent Remote Jobs
  • 8 Things You’re Forgetting to Include in Your Monthly Budget
  • NASA, Netflix Team Up to Live Stream Rocket Launches
  • Mark Zuckerberg Reveals Meta Superintelligence Labs
  • You Don’t Need A Retirement Coach—Or Do You?
  • Cut Costs Not Quality: 5 Grocery Upgrades That Save Money in the Long Run
Tuesday, July 1
Facebook Twitter Instagram
Solutions For RealSolutions For Real
Subscribe For Alerts
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans
Solutions For RealSolutions For Real
Home » Novartis to Spin Off Sandoz in October — Update
Investing

Novartis to Spin Off Sandoz in October — Update

News RoomBy News RoomAugust 19, 20230 Views0
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email Tumblr Telegram

By Adria Calatayud

Novartis said the planned spinoff of its Sandoz unit is expected to occur in early October, ending an era for the Swiss pharmaceutical giant in which generic and prescription drugs businesses coexisted under the same roof.

Sandoz, which focuses on generic drugs and biosimilars, is expected to start trading as a standalone company on the SIX Swiss Exchange on or around Oct. 4, according to a listing prospectus published Friday. Sandoz will also have an American depositary receipt–or ADR–program in the U.S.

The listing of Sandoz would culminate a separation process that Novartis launched last year in a bid to sharpen its focus on innovative prescription medicines, following similar moves from industry peers in recent years.

Novartis said the separation will take place through a proposed distribution of Sandoz shares to its existing shareholders. Novartis shareholders will get one Sandoz share for every five Novartis shares held and one Sandoz ADR for every five Novartis ADRs, the company said.

The Sandoz spinoff remains subject to approval by Novartis’s shareholders. Novartis has scheduled an extraordinary general meeting for Sept. 15 to vote on the proposed distribution of Sandoz shares and a reduction in its own share capital in connection with the spinoff, it said.

Novartis had previously said it expected the spinoff to happen early in the fourth quarter.

Sandoz generated pro forma total net sales of $9.12 billion and made a net profit of $677 million last year, according to its listing prospectus. Novartis said it intends to publish Sandoz’s financial statements for the first half of 2023 in early September.

After the spinoff, Sandoz will remain dependent on Novartis for technical development and manufacturing for a significant time, according to its listing prospectus.

The companies will enter into development-collaboration and manufacturing-and-supply agreements, under which Novartis will support the development of certain Sandoz biosimilar assets for five years initially and provide commercial manufacture, supply of certain biosimilar products for the first ten years after the spinoff, Sandoz said in the prospectus.

Write to Adria Calatayud at [email protected]

Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Articles

Mark Zuckerberg Reveals Meta Superintelligence Labs

Investing July 1, 2025

Try This AI-Powered Stock Picker

Investing June 30, 2025

This One Leadership Move Will Transform Your Team’s Loyalty and Performance

Investing June 20, 2025

Meta Plans to Release New Oakley, Prada AI Smart Glasses

Investing June 18, 2025

Citigroup Gives Employees Two Weeks of Remote Work in August

Investing June 11, 2025

Meet a Swift Student Challenge Winner Attending Apple’s WWDC

Investing June 10, 2025
Add A Comment

Leave A Reply Cancel Reply

Demo
Top News

3 Gently Used Cars You Can Still Buy for Under $20,000

July 1, 20250 Views

20 Companies With Permanent Remote Jobs

July 1, 20250 Views

8 Things You’re Forgetting to Include in Your Monthly Budget

July 1, 20250 Views

NASA, Netflix Team Up to Live Stream Rocket Launches

July 1, 20250 Views
Don't Miss

Mark Zuckerberg Reveals Meta Superintelligence Labs

By News RoomJuly 1, 2025

Meta CEO Mark Zuckerberg, 41, is reshaping the company’s AI efforts to focus on superintelligence,…

You Don’t Need A Retirement Coach—Or Do You?

June 30, 2025

Cut Costs Not Quality: 5 Grocery Upgrades That Save Money in the Long Run

June 30, 2025

10 Creative Ways to Save for a Big Goal (Like a Vacation!)

June 30, 2025
About Us
About Us

Your number 1 source for the latest finance, making money, saving money and budgeting. follow us now to get the news that matters to you.

We're accepting new partnerships right now.

Email Us: [email protected]

Our Picks

Summer Financial Checklist

July 1, 2025

3 Gently Used Cars You Can Still Buy for Under $20,000

July 1, 2025

20 Companies With Permanent Remote Jobs

July 1, 2025
Most Popular

Century 21 CEO optimistic over 2025 real estate market: Here's what buyers 'don't realize'

December 16, 20241 Views

15 Best Paid Survey Sites For Kids

December 12, 20231 Views

Summer Financial Checklist

July 1, 20250 Views
Facebook Twitter Instagram Pinterest Dribbble
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
© 2025 Solutions For Real. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.