Novartis: completes Sandoz spin-off
(CercleFinance.com) - Novartis today completed the spin-off of Sandoz, its Generics and Biosimilars business, through a distribution of dividends in kind to holders of Novartis shares and American Depositary Receipts (ADRs).
Each holder has received one Sandoz share for five Novartis shares, or one Sandoz ADR for five Novartis ADRs, held at the close of business on 3 October 2023.
The Sandoz spin-off enables Novartis to complete its transformation into a leading specialty pharmaceutical company. Novartis is well positioned for sustained growth in sales and earnings, it says.
Benefiting from several consecutive quarters of sales growth, Sandoz starts from a position of strength as the global leader in generics and biosimilars, it added.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
Each holder has received one Sandoz share for five Novartis shares, or one Sandoz ADR for five Novartis ADRs, held at the close of business on 3 October 2023.
The Sandoz spin-off enables Novartis to complete its transformation into a leading specialty pharmaceutical company. Novartis is well positioned for sustained growth in sales and earnings, it says.
Benefiting from several consecutive quarters of sales growth, Sandoz starts from a position of strength as the global leader in generics and biosimilars, it added.
Copyright (c) 2023 CercleFinance.com. All rights reserved.