In an interview with Swiss TV channel TeleZ ri, Novartis said that it is keeping all options open for the future of its generics division Sandoz.
Asked whether Novartis could merge Sandoz with Israel's Teva or U.S.-based Viatris or divest it, Joerg Reinhardt said: All options are open for us. He said that a merger or keeping the business was possible and Sandoz could be listed on the Swiss stock exchange.
He said we'd look at that and make a decision within the next 12 months.
Reinhardt said Novartis's innovative pharma business and the generics business had drifted further apart over the last years, so it made sense to look at options now.
Novartis said last month it might divest Sandoz, as price pressures mount in the off-patent drug sector.
Reinhardt said he prefers investing in our business rather than doing a share buyback, asked how Novartis could use the proceeds from the sale of its Roche stake. We'll decide that within the next few months. Reinhardt didn't rule out acquisitions, but he said it was important to see if a possible target would strengthen Novartis' core business of oncology, cardiovascular and immunology.
He said we'll examine, review and decide.