“Sandoz is going to be part of Novartis,” the Swiss group’s CEO Vas Narasimhan assured the audience during a recent investors’ day held in Boston, US. But while he played down suggestions that the Sandoz generics and biosimilars division could be spun-off in a similar way to the fortunes of ophthalmics division Alcon, he said major operational reforms were underway “to get the business in a strong position to be a leading generics company.”
During the same event, stand-in Sandoz head Francesco Balestrieri announced “a workforce reduction of about 7% worldwide to make our...
