Novartis has reached an agreement with Roche to sell its minority stake in the company in order to raise money for its proprietary medicines. The announcement, on 4 November, follows Novartis’ launch of a strategic review of its Sandoz generics unit which could result in a divestiture. The sale of shares in Roche is expected to generate $20.7 billion based on a price of $388.99 per share for 53.3 million bearer shares.
