Novartis' Sandoz spin-off achieves successful market debut at 24 Swiss francs

Novartis has completed the spinoff of its generics and biosimilars business, Sandoz, with shares trading at 24 Swiss francs on the SIX Swiss Exchange. The move is part of Novartis' strategy to focus on its patented prescription medicines. Sandoz, now an independent company, aims to deepen its impact on patients and society, with a focus on expanding its generics and biosimilars business, driving sales growth, and increasing profit margins. The company has a pipeline of 25 biologics projects, with plans to launch five more over the next two years. Around half of Sandoz's revenues come from Europe, and it expects significant growth in North America.