ZURICH: Swiss drugmaker Novartis’s Sandoz generics business is in the process of selling or closing some products in the United States, it said on Wednesday.
“In response to high price pressure, we are optimizing our U.S. portfolio. This includes the sale or discontinuation of certain non-core products and concentration of investment in strategic areas that will drive growth and improve access,” it said in a statement in response to a report by the Swiss newspaper Handelszeitung.
“As we continue to refine our portfolio, it is clear that the U.S. market is a very important market for Sandoz and will continue to be in the future,” it added.
Reuters had reported last month that Novartis was working with Centerview to examine options for its dermatology business, including a possible sale, as it trims non-core assets.
(Reporting by Paul Arnold, Editing by Michael Shields)