Image: REUTERS
The shares of the company, which was spun off from the pharmaceutical company Novartis, started trading on the Swiss SIX stock exchange at 24 francs (24.85 euros). Sandoz operates, among other things, a large production site in Kundl (Kufstein district).
The world’s largest provider of drugs with expired patent protection in terms of gross sales is the largest new addition to the trading floor in Zurich since 2019. At that time, the Swiss-American ophthalmology group Alcon, which also spun off from Novartis, made its debut to $28 billion.
The stock market value is at the lower end of the range estimated by analysts. However, the estimate based on the valuation of competitors such as the Israeli Teva, the US company Viatris and the Indian Sun Pharmaceuticals was far apart at 11 to 26 billion dollars, with an average of around 20 billion dollars.
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Source: Nachrichten
