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Novartis Considering Listing Sandoz on Swiss Borse

Novartis Considering Listing Sandoz on Swiss Borse

Novartis AG is considering listing generic-drug unit Sandoz, NZZ am Sonntag reported, citing two people with access to the pharmaceutical company’s top management. 

The deliberations went in the direction of a stock exchange listing, and Switzerland is favored for tax reasons, the newspaper reported. 

All options are open for the unit, including capital market transactions, spokesman Steffen Kurzawa said on Sunday. He said it’s too early to comment on potential locations for a listing, should the company opt for a separation.

The pharma giant said last week it may spin off or sell Sandoz after it consistently failed to meet expectations. Novartis gave itself until the end of next year to decide what to do with the business. 

The company is working with Bank of America Corp. and UBS Group AG as it weighs options, Bloomberg reported Oct. 26, citing people familiar with the matter. Sandoz could be valued at more than $20 billion as a standalone unit, the people said. 

©2021 Bloomberg L.P.