Novartis has made its decision for the future of Sandoz. The generics and biosimilars unit will be fully autonomous in the second half of next year and listed on SIX. The operation remains subject to formal validation by the Board of Directors and by the shareholders.
The project should give rise to a world giant and European leader in substitution drugs, with headquarters in Switzerland. The listing in Zurich will be supplemented by a replica program (ADR) across the Atlantic, said the press release published on Thursday.
Sandoz will therefore follow the path already traced by Novartis for its former ophthalmic subsidiary Alcon, introduced on the flagship index of the Zurich market in the spring of 2019.
The current parent company, resized, will be able to focus on its core business in innovative drugs. Sandoz had contributed last year to the turnover of the group to the tune of 9.63 billion dollars, out of a total of 51.63 billion.