Novartis executes separation of the Sandoz business to create an independent company by way of a 100% spin-off.

Oct 4, 2023

Novartis executes Sandoz Spin-off, completing strategic transformation into a leading, focused innovative medicines company

Novartis today completed the Spin-off of Sandoz, its Generics and Biosimilars business, through a dividend-in-kind distribution to holders of Novartis shares and American Depositary Receipts (ADRs), with each holder receiving one Sandoz share for every five Novartis shares or one Sandoz ADR for every five Novartis ADRs, held at the close of business on October 3, 2023.

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Sep 25, 2023

Novartis confirms Sandoz Spin-off for October 4, 2023

Novartis today confirmed plans for the 100% Spin-off of the Sandoz business, with trading of new Sandoz Group AG shares and ADRs (American Depositary Receipts) to commence on October 4, 2023.

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Sep 15, 2023

Novartis shareholders approve the proposed 100% Spin-off of Sandoz

At an Extraordinary General Meeting held today, Novartis shareholders approved the proposed 100% Spin-off of Sandoz, the Generics and Biosimilars business of Novartis.

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Download the voting results (PDF 0.1 MB)


Sep 5, 2023

Sandoz publishes supplement to Listing Prospectus including Sandoz H1 2023 financial statements

Sandoz today published a supplement to its Listing Prospectus of August 18, 2023, ahead of an Extraordinary General Meeting (EGM) of Novartis shareholders.

Scheduled to take place on September 15, 2023, the EGM has been called after the Novartis Board of Directors endorsed the proposed Spin-off of Sandoz, the Generics and Biosimilars business of Novartis.

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Aug 18, 2023

Novartis issues EGM Invitation and Shareholder Information Brochure. Sandoz publishes Listing Prospectus ahead of proposed Spin-off vote

Novartis today issued the invitation to an Extraordinary General Meeting (EGM) of Novartis shareholders, scheduled to take place on September 15, 2023, in relation to the proposed 100% Spin-off of Sandoz, the Generics and Biosimilars business of Novartis.

At the EGM, shareholders of Novartis will vote on two proposals:

  1. A special distribution by Novartis AG of a dividend-in-kind to effect the Spin-off of Sandoz Group AG
  2. A reduction of the share capital of Novartis AG in connection with the Spin-off of Sandoz Group AG

The EGM has been called after the Novartis Board of Directors unanimously endorsed and recommended that shareholders approve the proposed separation of Sandoz via a Spin-off.

This is a key step in the separation process, which was initiated in August 2022 when Novartis announced its intention to separate the Sandoz business to create an independent company by way of a 100% Spin-off. Novartis is confident that the Spin-off is in the best interests of shareholders, creating a European champion and a global leader in Generics and Biosimilars, and a more focused Novartis. Looking ahead, both companies would be able to focus on maximizing value creation for their shareholders by prioritizing capital and resource allocation, employing separate capital structure policies, and increasing management focus on their respective business needs.

Further information issued today on Sandoz and the proposed Spin-off includes:

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Jul 18, 2023

Sandoz planned spin-off updates at Novartis Q2 2023 Financial Results

The Novartis Board of Directors has unanimously endorsed the proposed separation of Sandoz to create an independent company by way of a 100% spin-off.

As a next step, shareholders of Novartis will be invited to vote on the proposed spin-off and a related reduction of the share capital of Novartis AG at an Extraordinary General Meeting, planned to be held on Friday, 15 September 2023. The invitation to the EGM, a Shareholder Brochure and listing prospectus, which will be published by Sandoz, are planned to be distributed in August 2023.

Sandoz is planned to be listed on the SIX Swiss Exchange, with an American Depositary Receipt (ADR) program in the US.

The proposed spin-off is planned to occur early in the fourth quarter of 2023. In addition to Novartis shareholder approval, completion of the proposed Sandoz spin-off is subject to satisfaction of certain conditions, including obtaining the necessary approvals for the listing of the Sandoz shares, no order prohibiting (and no other event outside the control of Novartis preventing) the spin-off and no material adverse change.

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Jun 8, 2023

Sandoz presents compelling investment proposition as standalone company at Capital Markets Day

Sandoz today hosts the first of two Capital Markets Days (CMDs) for investors, in New York City, to set out its plans for growth and success as a standalone company, following the proposed 100% spin-off from Novartis.

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Jun 1, 2023

Sandoz plans move to new central Basel headquarters by mid-2024, following proposed spin-off as standalone company

The Sandoz AG headquarters plans to move to a landmark office building called “Elsässertor” in the center of Basel, right by the Basel SBB train station. Sandoz expects to move from the Novartis Campus to its new headquarters in mid-2024.

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May 15, 2023

New Sandoz Board of Directors appointed

Sandoz takes the next steps to prepare for the planned listing on the Swiss Stock Exchange (SIX): The Novartis Board of Directors has approved the recommendations of the Sandoz Chairman-designate, Gilbert Ghostine, on the structure of the to-be Board of Directors of Sandoz and has nominated all of its future members.

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Apr 25, 2023

Sandoz planned spin-off updates at Novartis Q1 2023 Financial Results

The planned spin-off remains on track for the second half of 2023. Completion of the transaction is subject to certain conditions, including consultation with works councils and employee representatives (as required), general market conditions, tax rulings and opinions, final Board of Directors endorsement and shareholder approval in line with Swiss corporate law. The transaction is expected to be tax neutral to Novartis.

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Sandoz Capital Markets Day for investors will take place on June 8, 2023 (New York, USA) and June 12, 2023 (London, UK)


Feb 20, 2023

Novartis announces the appointment of the Chairman-Designate of Sandoz Board of Directors

Read the full media release: English


Aug 25, 2022

Novartis announces intention to separate Sandoz business to create a standalone company by way of a 100% spin-off

Read the full media release: English | German

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