Novartis considers selling ophthalmology, respiratory units to invest in cutting-edge medicines
Any sale of the ophthalmology and respiratory businesses is likely to begin in 2023, after the process for Sandoz is completed, the Bloomberg report said.;
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Basel: Swiss drugmaker Novartis AG is considering selling its ophthalmology and respiratory units, a Bloomberg report said on Wednesday, citing people familiar with the matter.
The company is seeking to raise money from the possible sale of the assets to invest in cutting-edge medicines, the report said, adding that the ophthalmology unit could alone fetch about $5 billion.
The drugmaker declined to comment on the report.
Novartis in August said it was planning to spin off its generics unit Sandoz to sharpen its focus on its patented prescription medicines.
The company spun off its Alcon eye care business in 2019 and in November last year, agreed to sell a nearly one-third voting stake in Roche as it seeks to streamline operations.
Sandoz sales have been hurt by pricing pressure that has affected the broader generics industry for years, particularly in the United States, although the country accounts for less than a quarter of its total sales.
Read also: Novartis allows generic Leukemia drug production in 7 nations: Bloomberg
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