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Novartis picks Centerview to explore sale of dermatology unit -sources [Reuters]

ADVANCED ACCELERATOR APPLICATIONS SA AMERICAN DE (AAAP)  More Company Research Source: Reuters
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PDF Novartis picks Centerview to explore sale of dermatology unit: sources | Reuters 3 Min Read LONDON/FRANKFURT (Reuters) - Swiss drugmaker Novartis ( NOVN.S ) is working with Centerview to review options for its dermatology business, including a possible sale, as it trims non-core assets, two sources familiar with the matter told Reuters. The mandate, which comes after Novartis’ $3.9 billion purchase of French radiopharmaceutical firm Advanced Accelerator Applications (AAA), is likely to pave the way for a sale of the group’s dermatology drugs, which could fetch up to $1.5 billion, the sources said. Novartis says its 131-year old generics business Sandoz runs the largest dermatology portfolio by sales among generics makers, offering anything from steroid ointments to creams for atopic dermatitis and genital warts. But Sandoz was recently hurt by price pressure in the United States, prompting it to discontinue some of its drugs and close a plant in Colorado. A sale of its dermatology d [Read more]

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