During the review process, Narasimhan said, Novartis will consider potential cost savings between Sandoz and the innovative medicine franchise, capital allocation, and which business set-up would be best for Sandoz's aspirations in the generics industry. Private investment firms might also step up for a deal. Bain Capital and Cinven bought German generics player Stada and delisted the drugmaker in 2018. The one less likely route for Sandoz? An acquisition from another generics giant.