Sandoz 'Seeking to Exploit Latent Tax Competition'

Sandoz, the Swiss pharmaceuticals group poised to become the world's biggest maker of generic drugs, is seeking to exploit latent tax competition between Germany, Austria and Switzerland in what could be one of Europe's highest profile company relocations this year. The group, the generics subsidiary of Switzerland's Novartis, has been based in Vienna since its creation last year. But after Novartis's recent $8.3bn (€6.4bn) takeover of Germany's Hexal and an internal review, Sandoz is considering a move to Munich or Basel.

Financial Times (http://news.ft.com/cms/s/0e791766-ac55-11d9-bb67-00000e2511c8.html)