Novartis Said to Mull Animal-Health Sale in Asset Review

Novartis AG has identified its animal-health business as a top candidate for a sale as Chairman Joerg Reinhardt revamps the Swiss drugmaker, according to three people familiar with the matter.

Novartis is working with Goldman Sachs Group Inc. on a portfolio review, which is at a relatively early stage, said two of the people, all of whom asked not to be named because the process is confidential. Novartis is also considering selling its over-the-counter medicines unit and the vaccines operation, they said. No final decision on asset sales has been made, the people said.