Novartis is planning to spin off its generics-and-biosimilars division Sandoz and list it as a stand-alone company in Switzerland
President Biden in mid-August signed into law sweeping legislation aimed at lowering prescription drug prices and boosting the renewable-energy sector. The bill also imposes new taxes on large corporations to reduce the federal deficit. Photo: Mandel Ngan/AFP/Getty ImagesNovartis AG is planning to spin off its generics-and-biosimilars division Sandoz and list it as a stand-alone company in Switzerland, a move Novartis said will enable it to focus on innovative medicines.
The Swiss pharmaceutical company said Thursday that Sandoz would be based in Switzerland and listed on the SIX Swiss Exchange, with an American depositary receipt program in the U.S.