LONDON (Reuters) – Novartis’ soon to be spun off generics division Sandoz is expected to expand its pipeline and generate an additional $3 billion in net sales over the next five years, the Swiss group said on Thursday.
The company intends to carve out Sandoz, which sells generics and biosimilars – cheap versions of biologic drugs made from living organisms – and generated about $9 billion in sales last year, to sharpen its focus on its patented prescription medicines in the second half of this year.
(Reporting by Natalie Grover in London; Editing by Himani Sarkar)