Tag: Novartis

Alcon to leave Geneva after Novartis spinoff
Global

Alcon to leave Geneva after Novartis spinoff

Alcon said it will relocate its future global headquarters in the Canton of Geneva, Switzerland, following completion of its proposed spinoff from Novartis. Novartis said in a statement that Alcon’s new global headquarters in Geneva will be the primary location for Alcon’s senior corporate leadership and other corporate and commercial […]

Novartis sells Sandoz US portfolio $1 billion
Global

Novartis sells Sandoz US portfolio $1 billion

Novartis said it has agreed to sell selected portions of its Sandoz US portfolio for about $1 billion. The company said the divestment includes the Sandoz US dermatology business and generic US oral solids portfolio, to Aurobindo Pharma USA Inc., for USD 0.9 billion of cash plus USD 0.1 billion […]

Novartis to spinoff Alcon into a standalone entity
Global

Novartis to spinoff Alcon into a standalone entity

Novartis said will spinoff Alcon, its eye care division, into a separately-traded standalone company. The planned spinoff would enable Novartis and Alcon to focus fully on their respective growth strategies. Completion of the transaction is subject to general market conditions, tax rulings and opinions, final Board of Directors endorsement and […]

Shannon Klinger to head legal unit at Novartis
Global

Shannon Klinger to head legal unit at Novartis

Pharmaceutical giant, Novartis said it has appointed Shannon Klinger as its Group General Counsel. The appointment of Shannon Klinger is as a result of the exit of Felix R. Ehrat, Group General Counsel of Novartis, who has decided to retire from the company. Mr. Ehrat said: “Although the contract was […]

Novartis acquires AveXis for $8.7 billion
Europe Global

Novartis acquires AveXis for $8.7 billion

Novartis announced has entered into an agreement and plan of merger with AveXis, Inc. to acquire the US-based Nasdaq-listed clinical-stage gene therapy company for USD 218 per share or a total of USD 8.7 billion in cash. The transaction was unanimously approved by the Boards of both companies. AveXis has […]