Novartis' Sandoz to generate additional $3 bln in net sales over next five years

Novartis' soon to be spun off generics division Sandoz is expected to expand its pipeline and generate an additional $3 billion in net sales over the next five years, the Swiss group said on Thursday.

The company intends to carve out Sandoz, which sells generics and biosimilars - cheap versions of biologic drugs made from living organisms - and generated about $9 billion in sales last year, to sharpen its focus on its patented prescription medicines in the second half of this year.

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