Novartis CEO says Sandoz attracting interest - paper

Reuters2021-12-10

ZURICH (Reuters) - Novartis's potential sale of its Sandoz generic drug business is attracting interest from possible buyers, Chief Executive Vas Narasimhan said in an interview to be published on ...

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But no concrete offers,\" he added.\nNovartis would decide by the end of 2022 how to proceed with Sandoz, which achieved sales of $9.7 billion last year, about 20% of the group's total, Narasimhan added.\n\"The question we need to clarify by then is: Will Sandoz be more successful in the future within or outside the Novartis organization?\"\n\"What is clear is that we want to focus Novartis primarily on innovative medicines. We generate 80% of our sales and 80 to 90% of our profits with new medicines, for example for cancer, cardiovascular problems or genetic diseases.\"\nNovartis recently sold its 33% stake in Roche to its Basel rival for $21 billion. Narasimhan said the cash could be used for acquisitions, share buybacks or both.\nBut he ruled out a large deal.\n\"We are not interested in a very large deal. In the past few years, Novartis has not closed a transaction over ten billion dollars. 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