BRIEF-Novartis would consider attractive offer for Sandoz if it received one

Novartis AG: * NOVARTIS CEO: ‘THERE’S A BROAD RANGE OF PRICE TO EARNINGS RATIOS WITHIN THE GENERIC SECTOR AND WE VIEW SANDOZ AS MORE WELL POSITIONED VERSUS EUROPEAN FOCUSED PEERS’

* NOVARTIS CEO: CO EXPECTS TO CONTINUE TO RECEIVE INBOUND INTEREST FROM VARIOUS PRIVATE EQUITY FIRMS OR OTHER POTENTIAL BUYERS FOR SANDOZ, BUT THE SPIN OFF WOULD BE IN THE BEST INTEREST OF NOVARTIS SHAREHOLDERS * NOVARTIS CEO: CO HAS NOT RECEIVED ANY FORMAL BINDING OFFERS FOR SANDOZ TO DATE

* NOVARTIS CEO: IF SOMEBODY CAME WITH A HIGHLY ATTRACTIVE OFFER FOR SANDOZ, CO WOULD CONSIDER IT – BUT MOST LIKELY EXPECT TO SEE THROUGH SPINOFF * NOVARTIS CEO: IN THE WAY THE SPINOFF WOULD BE STRUCTURED, NOVARTIS WOULD NOT RECEIVE SIGNIFICANT ADDITIONAL CASH PROCEEDS

* NOVARTIS CEO: NOVARTIS CONTINUES TO LOOK AT BOLT ON M&A, WITH A FOCUS TO SUB $4 BILLION M&A * NOVARTIS CEO: IN TERMS OF BALANCE SHEET IMPACTS TO NOVARTIS AT THIS POINT IN TIME, WE WOULD NOT EXPECT ANY IMPACTS TO NOVARTIS

* NOVARTIS CEO: GENERIC SECTOR IS A HIGHLY ATTRACTIVE MARKET – THERE WILL BE $400 TO $500 BILLION OF POTENTIAL MARKET FOR ‘GENERICISATION’ OVER THE COMING DECADES Further company coverage:

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