RE: AffyXell Therapeutics25 Aug 2022 12:35
With Avacta’s JV: Affyxell,developing the next generation of cell and gene therapies, Novartis ambition of being part of and clearly paying attention to the gene therapy sector, with valuation going north fast, the following announcement is no surprise:
Novartis announces intention to separate Sandoz business to create a standalone company by way of a 100% spin-off
Sandoz strategic review concludes that a separation of Sandoz by way of a 100% spin-off is in the best interest of shareholders, creating the #1 European generics company and a global leader in biosimilars, and a more focused Novartis.
Novartis: Focused Innovative Medicines Company
Novartis will continue expanding its strong position in five core therapeutic areas (Hematology, Solid Tumors, Immunology, Neuroscience and Cardiovascular), strength in technology platforms (Gene Therapy, Cell Therapy, Radioligand Therapy, Targeted Protein Degradation and xRNA), and a balanced geographic footprint. Novartis will also continue progressing the implementation of its new organizational structure announced in April 2022, integrating the Pharmaceuticals and Oncology business units with separate US and International commercial organizations supported by a new Strategy & Growth function and Operations unit to increase focus, strengthen competitiveness and drive synergies.