(Bloomberg) Novartis AG may spin off or sell its Sandoz generic-drug unit after it consistently failed to meet expectations, with U.S. sales plummeting this year amid the Covid-19 pandemic. The Swiss pharma giant gave itself until the end of next year to decide what to do with the business, which has suffered from price erosion and tough competition. The move comes more than two years after Novartis started making the generics unit more independent, splitting off manufacturing and support functions. Now is the right moment to reconsider its strategic fit, and the company will explore all options, Chief Executive Officer Vas Narasimhan said on Tuesday. While keeping Sandoz is among the possibilities, many investors would welcome a split. Sandoz has struggled this year as demand lagged and public-health measures to stop Covid-19 reduced the cough and cold season. The review follows moves in recent years to spin off the drugmaker’s Alcon eye-care division and ditch a stake in a consum
(Bloomberg) Novartis AG may spin off or sell its Sandoz generic-drug unit after it consistently failed to meet expectations, with U.S. sales plummeting this year amid the Covid-19 pandemic. The Swiss pharma giant gave itself until the end of next year to decide what to do with the business, which has suffered from price erosion and tough competition. The move comes more than two years after Novartis started making the generics unit more independent, splitting off manufacturing and support functions. Now is the right moment to reconsider its strategic fit, and the company will explore all options, Chief Executive Officer Vas Narasimhan said on Tuesday. While keeping Sandoz is among the possibilities, many investors would welcome a split. Sandoz has struggled this year as demand lagged and public-health measures to stop Covid-19 reduced the cough and cold season. The review follows moves in recent years to spin off the drugmaker’s Alcon eye-care division and ditch a stake in a consum
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