Company anticipates launch of a standalone organization.
In a unanimous decision, Novartis officially announced that its board of directors have endorsed the potential separation of Sandoz with the goal of creating an independent organization as a 100 percent spin-off. Expected to occur towards the end of this year, approval depends on satisfaction of certain conditions, including obtaining the necessary approvals for the listing of the Sandoz shares, no order prohibiting the spin-off and no material adverse change.
According to the company, it intends to have Sandoz placed on the SIX Swiss Exchange, with an American Depositary Receipt (ADR) program in the US.
Reference: Novartis delivers strong sales growth, robust margin expansion and raises guidance. Announces USD 15 billion share buyback and Board endorses Sandoz spin-off. Novartis. July 18, 2023. Accessed July 20, 2023. https://www.novartis.com/news/media-releases/novartis-delivers-strong-sales-growth-robust-margin-expansion-and-raises-guidance-announces-usd-15-billion-share-buyback-and-board-endorses-sandoz-spin-off12
Understanding the FDA's Exemption for DSCSA Compliance
November 12th 2024In the quest for achieving full traceability, the exemption applies to certain trading partners under the Act, and postpones enforcement of final compliance requirements while acknowledging progress and ongoing challenges.
LogiPharma Unpacked: Highlights, Key Insights, and the Road to 2025
October 16th 2024In this special post-show episode, we sit down with Ryan Portela, Head of Production for LogiPharma, to reflect on the highlights and key takeaways from this year’s event. From attendee feedback to the most impactful sessions, Ryan shares insider insights and discusses how the momentum from 2024 will continue to shape the future of pharma supply chains. Plus, get a sneak peek into the exciting plans for LogiPharma's 20th Anniversary in 2025.