March 5, 2019 / 4:03 PM / 3 months ago

Novartis has no plans to sell Sandoz - chairman

ZURICH, March 5 (Reuters) - Swiss drugmaker Novartis has no plans to sell all or parts of its Sandoz generics business, Chairman Joerg Reinhardt said in a newspaper interview, saying it was keeping its options open.

"Sales are not planned at the moment. There are also no specific considerations that would have the goal of separating Sandoz," he was quoted by Finanz und Wirtschaft as saying when asked about prospects of a sale or spinoff.

Asked whether Sandoz could grow via acquisitions, he said: "As far as the development of Sandoz is concerned, I do not want to exclude anything. We want to be competitive in all areas in which we operate. Margins of 20 percent or more are possible and that is quite attractive." (Reporting by Michael Shields, editing by John Revill)

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