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Today, Wednesday, has arrived: Sandoz shares will be listed on the Swiss stock exchange for the first time. This means Novartis’ former generics division is back on its own.
Now a course is being created for the first time. After the stock market opened, this figure stood at 24 francs per share, which was slightly below expectations. Analysts were expecting a price of between 26 and 33 francs per Sandoz share.
The new entrant will be listed from the start on the Swiss Leader Index (SLI), which includes the 30 most important listings on the Zurich stock exchange. Novartis shareholders receive one Sandoz title for every five shares.
With the departure of Sandoz, pharmaceutical giant Novartis wants to focus on its main areas such as the production and marketing of patent-protected drugs. Because this business is much more profitable than generic drugs.
Sandoz now depends on how successful biosimilars will be in the US. As with generics, these are counterfeit products. These are produced organically and are not exactly the same as the original medicine, as is the case with generic drugs.
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Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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