Novartis' soon-to-be spun off generics division Sandoz is expected to expand its pipeline and potentially generate an additional $3 billion in net sales over the next five years, the Swiss group said on Thursday.
soon-to-be spun off generics division Sandoz is expected to expand its pipeline and potentially generate an additional $3 billion in net sales over the next five years, the Swiss group said on Thursday.
Novartis kicked off a strategic review of Sandoz in 2021 - examining a range of options including retaining the business, spinning it off or selling it - following a protracted period of underperformance driven largely bySandoz sells generics and biosimilars - cheap versions of biologic drugs made from living organisms - and generated about $9 billion in sales last year.
Still, the Sandoz spin-off proposal did not come as a surprise given poor market conditions and the long struggling broader market for generics, analysts have said.
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