Sandoz's long-awaited spin-off to take place next week
The date for the generics and biosimilars specialist Sandoz to spin out from its parent company Novartis (NOVN: VX) has been announced.
All 100% of the business will go its own way - and trading of new Sandoz Group shares and American Depositary Receipts (ADRs) will begin - on October 4.
This follows Novartis shareholders giving their approval for the spin-off of Sandoz, at an extraordinary general meeting, held earlier this month.
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