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The company said it would spin off its patient monitoring and respiratory interventions businesses into a new company, as it seeks to have a more streamlined portfolio and faster revenue growth.

Biohaven Pharmaceuticals has set a new course following its acquisition by Pfizer with a focus on developing therapeutics that modulate the Kv7 ion channel for the treatment of neurological and neuropsychiatric diseases.

Novartis plans to spin off its underperforming generics unit Sandoz to sharpen its focus on its patented prescription medicines, the Swiss group said on Thursday, acknowledging it had not received any formal offers for the business to date.

The standalone Health Care business will be a leading global diversified healthcare technology company focused on wound care, oral care, healthcare IT, and biopharma filtration

The new company, Haleon, emerges as the world’s biggest standalone consumer health business, home to brands including Sensodyne toothpaste and Advil painkillers.