The Innovative Medicines division comprises two business units: Novartis Pharmaceuticals and Novartis Oncology. In August 2022, Novartis announced plans to spin off Sandoz as part of restructuring. In April 2019, Novartis spun off Alcon into a separate company. Novartis's businesses are divided into three operating divisions: Innovative Medicines, Sandoz (generics) and Alcon (eyecare). Novartis AG owns, directly or indirectly, all companies worldwide that operate as subsidiaries of the Novartis Group. Novartis AG is a publicly traded Swiss holding company that operates through the Novartis Group. Novartis is a full member of the European Federation of Pharmaceutical Industries and Associations (EFPIA), the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA), and the Pharmaceutical Research and Manufacturers of America (PhRMA). Novartis divested its agrochemical and genetically modified crops business in 2000 with the spinout of Syngenta in partnership with AstraZeneca, which also divested its agrochemical business. The Sandoz brand disappeared for three years, but was revived in 2003 when Novartis consolidated its generic drugs businesses into a single subsidiary and named it Sandoz. Other Ciba-Geigy and Sandoz businesses were sold, or, like Ciba Specialty Chemicals, spun off as independent companies. In March 1996, the companies Ciba-Geigy and Sandoz merged to form Novartis the pharmaceutical and agrochemical divisions of both companies formed Novartis as an independent entity. Novartis manufactures the drugs clozapine (Clozaril), diclofenac (Voltaren sold to GlaxoSmithKline in 2015 deal), carbamazepine (Tegretol), valsartan (Diovan), imatinib mesylate (Gleevec/Glivec), cyclosporine (Neoral/Sandimmune), letrozole (Femara), methylphenidate (Ritalin production ceased 2020), terbinafine (Lamisil), deferasirox (Exjade), and others. Consistently ranked in the global top five, Novartis is one of the largest pharmaceutical companies in the world and was the fourth largest by revenue in 2022. Novartis AG is a Swiss multinational pharmaceutical corporation based in Basel, Switzerland andĬambridge, Massachusetts, United States (global research).
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