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Sandoz Stands Alone

Oct 4, 2023

Novartis announced it successfully completed the spin-off of Sandoz, its former generics and biosimilars business on 4 October 2023.  Sandoz also made its own announcement about the spin-off, noting it completed its first trading day on the Swiss Exchange on 4 October with an opening share price of CHF 24.00.

The proposed spin-off was first announced by Novartis on 25 August 2022, a proposal which was unanimously endorsed by the Novartis board on 18 July 2023 and secured shareholder approval for the spin-off at the Novartis EGM on September 15 2023.