Switzerland: Novartis looks to spin off Sandoz business

Swiss-based global healthcare company, Novartis, intends to separate its Sandoz business, a major global player in generic pharmaceuticals and biosimilars, by way of a publicly listed standalone 100% spin-off. Sandoz is planned to be incorporated in Switzerland and listed on the SIX Swiss Exchange, with an American Depositary Receipt (ADR) programme in the US. The…