Sandoz Offers Further Financials Ahead Of Spinoff
Supplement To Listing Prospectus Includes Combined And Pro-Forma First-Half Statements
With around a month to go until Sandoz is expected to become a standalone company following its spinoff from parent Novartis, the firm has published additional financial information ahead of a shareholders meeting in mid-September.
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At an extraordinary general meeting held earlier today, Novartis shareholders gave the go-ahead for the spinoff of the Sandoz generics and biosimilars business, paving the way for a formal separation on 4 October.
Double-digit growth in the Europe region and in its biosimilars business helped to push up sales for Sandoz in the second quarter and first half of 2023.
At a pair of capital markets days in New York and London, Sandoz has set out expectations for its post-spinoff future – with biosimilars featuring heavily in the company’s growth plans.