Novartis unit Sandoz starts trading at 24 Swiss francs after completing spinoff
Publishing timestamp: 2023-10-04 03:35:40
Summary
Novartis has completed the spinoff of its generics and biosimilars business, Sandoz. The shares of Sandoz began trading at 24 Swiss francs on the SIX Swiss Exchange. Novartis aims to focus on being a pure play innovative medicines company. The company's shares climbed more than 3% in early trade. Sandoz CEO Richard Saynor stated that the spinoff will allow the company to focus on growing its business and expanding its pipeline.
Sentiment: NEUTRAL
Keywords: biotech and pharmaceuticals, business news, health care industry, breaking news: europe, stoxx 600, investment strategy, novartis ag,
Source: https://www.cnbc.com/2023/10/04/novartis-unit-sandoz-completes-spinoff.html