Ex-Novartis unit Sandoz makes stock exchange debut
Generic medicines specialist Sandoz is to be listed on the SIX Swiss stock exchange as a fully independent entity on Wednesday after being spun-off by pharma giant Novartis.
This content was published on
2 minutes
Keystone-SDA
Novartis took the decision to spin off its subsidiary in August 2022, as part of its own transformation towards becoming a more focused pharmaceutical company.
Novartis shareholders get one Sandoz title for every five shares. The same breakdown applies to American Depositary Receipts (ADRs). A total of 431 million shares will be issued, and Sandoz will be listed from the start in the Swiss Leader Index (SLI), which includes the 30 biggest listings on the Zurich stock exchange.
Based on initial pre-market indications, Sandoz’s market capitalisation is likely to be a little under CHF20 billion ($21.7 billion). Novartis was worth CHF209 billion on Tuesday evening.
“Today marks the beginning of a new era for Sandoz as an independent company, but our goal remains unchanged: to be a pioneer in access to medicines for patients,” Sandoz chairman Gilbert Ghostine said in a press release.
Sandoz was founded in 1886, while the pharmaceutical company Novartis was created in 1996 via a merger with Ciba-Geigy. Initially just part of a division, Sandoz became an independent reporting unit in 2005.
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles. You can find them here.
If you want to know more about how we work, have a look here, and if you have feedback on this news story please write to english@swissinfo.ch.
External Content
Your subscription could not be saved. Please try again.
Almost finished… We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.
Switzerland commits CHF50 million to combat rural poverty worldwide
This content was published on
The Federal Council approved a contribution of CHF49.5 million ($54.1 million) for the International Fund for Agricultural Development (IFAD).
Arrests made in raid against Turkish criminal organisation
This content was published on
A cross-border raid against a Turkish criminal organisation was conducted, including property searches in cantons Aargau and Zurich.
Up to 4,000 Swiss army soldiers to protect Ukraine peace conference
This content was published on
The Federal Council has authorised deployment of army personnel for the Ukraine peace conference on the Bürgenstock in June.
This content was published on
The business association, Swissmem, reports that there are increasing signs that the bottom of the downturn will be reached this year.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.