Novartis: new HQ for Sandoz
(CercleFinance.com) - Sandoz, Novartis' spin-off generics and biosimilars division, has announced plans to move its future permanent headquarters to an office building called "Elsässertor" in the centre of Basel in mid-2024.
The planned new workspace will be designed to enable closer collaboration and teamwork across the organisation, it says, adding that the move will have no impact on the management of its global business.
Novartis announced its intention to spin off Sandoz, its off-patent medicines division, via a 100% demerger last August. This operation is expected to be completed in the second half of 2023 and would see Sandoz listed on the stockmarket.
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