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Novartis executes Sandoz Spin-off; To "fully" focus on innovative medicines

Novartis executes Sandoz Spin-off; To "fully" focus on innovative medicines
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Novartis shareholders approve the proposed 100% Spin-off of Sandoz

At an Extraordinary General Meeting held today, Novartis shareholders approved the proposed 100% Spin-off of Sandoz, the Generics and Biosimilars business of Novartis. Shareholders also approved an ordinary capital decrease of the share capital of Novartis AG in the amount of the share capital of Sandoz. This is to achieve tax neutrality of the Spin-off for Swiss withholding tax purposes and for income tax purposes for Swiss domiciled shareholders holding the shares as private assets. ....

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