26 April 2023
The planned spin-off of Sandoz by Novartis in on track for completion in the second half of 2023.
Novartis announced in 2022 its intention to separate Sandoz, its generics and biosimilars business into a standalone business.
For Q1 2023 Novartis reported sales of $2.4 bil (growth of 8%) at Sandoz and raised Sandoz 2023 top line guidance: sales expected to grow mid single digit (low-to-mid) while core OpInc expected to decline low double digit reflecting required stand-up investments to transition Sandoz to a separate company and continued inflationary pressures.
Sandoz Capital Markets Day is planned for June 8, 2023 in New York and June 12, 2023 in London.
August 25, 2022 Presentation – Spin-off Announcement