Novartis Investors Agree on Split from Sandoz Generics Unit
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Novartis AG shareholders approved the spinoff of generic drugs unit Sandoz, setting up the latest step in the Swiss company’s shift to focus solely on new medicines.
Investors voted 99.7% on Friday in favor of a distribution of one share in Sandoz for every five dividend-bearing shares of Novartis. The split is planned for around Oct. 4.