With companies like GlaxoSmithKline and bluebird bio moving closer to splitting their businesses into multiple entities, Novartis is reviewing the Swiss drugmaker’s Sandoz division to determine the best moves going forward to maximize value for shareholders.

The U.S. Supreme Court on May 17 dashed Novartis AG’s hopes of launching a generic version of Amgen Inc.’s multibillion-dollar rheumatoid arthritis medicine Enbrel, declining to hear the company’s challenge to two patents on the drug.

Sandoz, a division of Swiss-based Novartis, inked a deal to buy U.K.-based GlaxoSmithKline’s cephalosporin antibiotics business.