A Win-Win As Novartis Sells Roche Stake
Deal Worth Whopping $20.7bn
Over two decades since it first invested in its rival from across Basel, Novartis is selling back more than 50 million shares to Roche and banking billions of dollars that will likely be used for bolt-on acquisitions.
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CEO Vas Narasimhan sees Novartis very much as an innovative company so the long-awaited strategic review of Sandoz suggests that the generics/biosimilars business could be spun off or sold fairly soon.