Where’d this come from?
Novartis already consolidated its oncology and pharmaceuticals units as part of a major company overhaul this year.
The ophthalmology and respiratory franchises are non-core assets, meaning they’re not included in the five core therapeutic areas and technology platforms the company announced plans to focus on in the future.
How much is the ophthalmology franchise worth?
Estimates clock in at around $5 billion.
Do we have a timeframe?
Bloomberg reports any potential sales would likely commence in 2023, following Novartis’s anticipated separation from Sandoz—its generics and biosimilar division—into a publicly-traded, stand-alone spinoff. (via)
When might we know more?
Hard to say … but the Bloomberg report did mention that discussions are still in the early stages and the company may ultimately decide against the sell-offs. So keep your eyes peeled for updates!