Novartis readies to auction U.S. generic pills business
Novartis is preparing to auction off its U.S. generic pill business, which has struggled amid fierce price competition, unlike the fortunes of the rest of Novartis’ $10B Sandoz generics and biosimilars division. The company has had better success with manufacturing hard-to-make generic drugs, such as injectables and inhalables, than it has with easier to produce pills.
Novartis’ generic pills business could fetch as much as $1.6B based on estimated 12-month earnings. A sale process for the unit will launch in the next few weeks and could attract other pharmaceutical companies or private equity firms.
