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.
- Financial Times 16/09/99 page 31
- The Guardian 16/09/99 page 27
- Novartis to cut costs by 10% FWi, (23 June, 1999)
- Novartis shares fall on GM worries FWi, (27 August, 1999)