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Novartis mulling billion-dollar sales of ophthalmology and respiratory units
Novartis is reportedly mulling the sales of two of its divisions, which could flood the pharma giant with billions new capital.
The Swiss-American pharma giant is engaged in early discussions for the sale of its ophthalmology and respiratory units, Bloomberg first reported, citing people familiar with the matter.
The divisions, non-core assets for the firm, have caught the eyes of private equity firms, according to the report.
The ophthalmology business alone could fetch about $5bn, they said, asking not to be identified discussing confidential information.
Shares in Novartis sank 0.7 per cent today, building on a 1.4 per cent dip into the red so far this year.
Novartis declined to comment on market rumors.