Novartis confirms Sandoz Spin-off for October 4, 2023

Novartis confirms Sandoz Spin-off for October 4, 2023
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  • Sandoz shares (SDZ) to be listed and traded on SIX Swiss Exchange; ADRs to be traded on OTCQX®, first trading day October 4, 2023
  • Sandoz to be included in key Swiss market indices
  • Investment grade credit rating for Sandoz confirmed: Moody’s, Baa2; S&P, BBB
  • Debt financing of USD 3.75 billion (in various currencies) secured for Sandoz, supported by USD 1.25 billion revolving credit facility
  • Spin-off to be completed by way of a 1:5 distribution of Sandoz shares to Nov
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Novartis radioligand therapy Lutathera® demonstrated statistically significant and clinically meaningful progression-free survival in first line advanced gastroenteropancreatic neuroendocrine tumors (GEP-NETs)

Novartis radioligand therapy Lutathera® demonstrated statistically significant and clinically meaningful progression-free survival in first line advanced gastroenteropancreatic neuroendocrine tumors (GEP-NETs)
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  • Phase III NETTER-2 trial met primary endpoint of improvement in progression-free survival (PFS) and key secondary endpoint of objective response rate (ORR) in patients with Grade 2 and 3 advanced gastroenteropancreatic neuroendocrine tumors (GEP-NETs) who received first line treatment with Lutathera® in combination with long-acting octreotide, versus high-dose long-acting octreotide alone1,2
  • Lutathera is the first radioligand therapy (RLT) to demonstrate clinically meaningful benefit in a
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