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Novartis’ board unanimously endorses Q4/23 Sandoz spin-off

Jul 18, 2023

Novartis announced that its Board of Directors has unanimously endorsed the proposed separation of Sandoz from the Novartis Group, by way of a spin-off planned for Q4 of 2023.  Shareholders at Novartis will have the opportunity to vote on the proposed spin-off and share capital reduction at an Extraordinary General Meeting on 15 September 2023.  The spin-off aims to list Sandoz on the SIX Swiss Exchange, and completion is dependent on shareholder approval, meeting specific conditions, and obtaining necessary approvals for the listing of Sandoz shares.

This week on 20 July 2023, Sandoz announced it will build a US$90M Biosimilar Technical Development Centre in Slovenia, due for completion in 2026.