Bloomberg: Novartis Mulls Selling Its Ophthalmology Unit

Bloomberg: Novartis Mulls Selling Its Ophthalmology Unit

November 17, 2022

Novartis is considering selling its ophthalmology and respiratory units, a Bloomberg report said on Wednesday, citing people familiar with the matter.

According to the report, Novartis, which earlier this year announced a significant revamp that integrated its oncology and pharmaceuticals units, is still evaluating options for its ophthalmology and respiratory units. According to Bloomberg's sources, the ophthalmology sector might yield roughly $5 billion alone, and some private equity companies are already studying the businesses.

Novartis declined to comment on the matter at the time of publishing.

According to the restructuring plan unveiled in April, the ophthalmology and respiratory units do not come into the five main therapeutic areas that Novartis CEO Vas Narasimhan stated he is aiming for for the company's future. Those operations include hematology, immunology, solid tumors, neurology, and cardiovascular illnesses.

The Bloomberg report said any sales of the respiratory and ophthalmology businesses are likely to start in 2023, following Sandoz's planned separation as a generic and biosimilars company.