Sandoz (OTCMKT:SDZNY) stock is a hot topic among traders on Wednesday as the company starts trading after a spinoff.
Let’s get into everything investors need to know about Sandoz below!
What to Know About SDZNY Stock
- First off, investors will note that Sandoz is a generic and biosimilar unit that was spun off from Novartis (NYSE:NVS).
- As a result of this spinoff, the company’s shares are trading in the U.S. through OTC markets.
- Outside of the U.S., shares of SDZ stock are trading on the SIX Swiss Exchange.
- The spinoff has holders of NVS stock receiving one share of SDZNY for every five shares that they own.
- Analysts at Jefferies have estimated that the spinoff of Sandoz is worth $12.3 billion to $16.2 billion.
- Sandoz expects the spinoff to allow it to better focus on its own projects.
- That includes its pipeline of 25 biologics and plans for five more product launches in the next couple of years.
Vasant Narasimhan, CEO of Novartis, said the following about the news.
“With several consecutive quarters of sales growth, Sandoz starts out from a position of strength as a global leader in Generics and Biosimilars, and I am confident they are poised to deepen their impact on patients and society.”
SDZNY stock is up slightly as of Wednesday morning.
Investors looking for more of the most recent stock market stories for Wednesday will want to keep reading!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
