No­var­tis to de­cide on spin­ning off $25B gener­ics arm San­doz by year's end

Ru­mors of No­var­tis spin­ning off its gener­ic and biosim­i­lars arm San­doz have been cir­cu­lat­ing since at least 2019.

Now, San­doz says a de­ci­sion from No­var­tis is com­ing by the end of 2022, with a San­doz spokesper­son adding to End­points News, “all op­tions re­main open.”

Those op­tions may in­clude a spin­off of the $25 bil­lion sub­sidiary, which Bloomberg re­ports sources are fa­vor­ing in­ter­nal­ly, or sell­ing it off. Black­stone and the Car­lyle Group pre­vi­ous­ly con­sid­ered a joint of­fer for San­doz that could val­ue that unit at up to $25 bil­lion. And pri­or to that po­ten­tial of­fer, EQT and the bil­lion­aire Strüng­mann broth­ers were re­port­ed­ly in talks for a $21 bil­lion bid for San­doz.

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