16 September 1999
Novartis may spin off agribusiness

NOVARTIS, the Swiss life sciences group, could spin off or merge its agribusiness division involved in the development of genetically modified crops.

Heinz Imhof, chief executive of the agribusiness arm, said the group was considering options for its second biggest business where profits are under pressure.

He emphasised that no decision had been taken as yet on the agribusiness arm which is thought to be worth about $15bn.