Sandoz: Gilbert Ghostine, Chairman and Richard Saynor, CEO (from left to right)
Today, Sandoz Group AG (Ticker “SDZ"), a Novartis spin-off, listed its shares at SIX Swiss Exchange. At an opening price of CHF 24.00 per share, the resulting market capitalization of Sandoz was around CHF 10.3 billion.
The issued share capital of Sandoz comprises of 431’000’000 registered shares with a nominal value of CHF 0.05. A public offering of the company’s shares did not take place. As of today, Sandoz was admitted to the Swiss Leader Index (SLI), the Swiss Performance Index (SPI) and the SXI Life Sciences Index, and as of 5 October 2023, Sandoz will be admitted to the SMI Mid Index (SMIM).
In July 2023, Novartis announced its intention to seek shareholder approval for the 100% spin-off of the Sandoz business into an independent publicly traded company at SIX Swiss Exchange. On 15 September 2023, Novartis shareholders approved the proposed 100% spin-off of the Sandoz division to be implemented through the distribution of a dividend-in-kind, with Novartis shareholders and holders of Novartis American Depositary Receipts (ADRs) receiving one (1) Sandoz share for every five (5) Novartis shares, respectively one (1) Sandoz ADR for every five (5) Novartis ADRs held.
Sandoz CEO Richard Saynor says: “As an independent company, Sandoz will be fully enabled to deliver on its purpose-driven strategy, which targets sustainable leadership in the growing and critical generics and biosimilars industry. We already actively pioneer access for patients by shaping the global healthcare environment. And we intend to make an even greater impact going forward.”
Jos Dijsselhof, CEO SIX, highlights: “I am delighted to welcome Sandoz – another global company at our exchange which is a market leader in its industry. Today's listing marks a major milestone in Sandoz's long history and lays the foundation for the company to further realize its vision to become the world's most valued generics company. I wish Sandoz every success as it continues its journey as an independent SIX listed company.”
Further information about Sandoz.