The Swiss pharmaceutical company Novartis has plans to split off the Sandoz component entirely and to list it on the stock exchanges in Switzerland and in New York. This was announced by Novartis on Thursday.

Subject to the necessary approvals, Novartis expects to complete the transaction in the second half of 2023.

Sandoz, a manufacturer of generic drugs, remains headquartered in Switzerland. Sandoz generated $ 9.6 billion in revenue in 2021.

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