logo
  

Novartis Considers Sale Of Ophthalmology, Respiratory Units : Report

Novartis AG (NVS) is considering sales of non-core assets. It is in the early stages of considering options for its ophthalmology and respiratory units. Some private equity firms are already studying the businesses, Bloomberg reported citing people familiar with the matter.

According to the report, the ophthalmology business alone could fetch about $5 billion.

Novartis said in August that it planned to separate Sandoz, its generics and biosimilars division, into a new publicly traded standalone company through a 100 percent spin-off.

Bloomberg reported Wednesday that any sales of the ophthalmology and respiratory businesses are likely to begin in 2023, after a process for Sandoz is complete. There is no certainty they'll result in any disposals.

Novartis's respiratory unit develops drugs for diseases that affect breathing, ranging from idiopathic pulmonary fibrosis to asthma. Its ophthalmology researchers work on treatments for the protection and restoration of vision.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Health insurer Humana Inc. reported Wednesday a net loss for the fourth quarter that slightly widened from last year, hurt primarily by charges associated with productivity initiatives, despite 6.6 percent revenue growth. Adjusted earnings for the quarter topped analysts' expectations, while quarterly revenues missed it by a whisker. South Plainfield, New Jersey-based Two Rivers Coffee is recalling its peanut butter single serve hot chocolate pods citing an undeclared peanut allergen, the U.S. Food Drug Administration said. The recall involves peanut butter single serve hot chocolate pods distributed as "Brooklyn Bean Peanut Butter Cup Hot Cocoa", "Pingo Peanut Butter Cookie Hot Chocolate" and ... Shares of Novartis AG were losing around 2 percent in the early morning trading in Switzerland after the drug major reported Wednesday sharply lower profit in its fourth quarter with weak sales as well as the absence of prior year's hefty Roche income. Adjusted earnings, however, topped market estimates, while top line missed their view. Further, the company announced higher dividend...
Follow RTT