Novartis, headquartered in Basel, arose out of the two former pharma and chemistry companies Ciba-Geigy and Sandoz. As of today Novartis is the worldwide number two of the pharmaceutical business after the rival in the Basel-area, Roche. Net sales by region are distributed as follows: 74% in Established Markets and 26% in the Emerging Marktes. From 2Q19 on and based on the new strategic focus on pharma only the Novartis Group consists of the two divisions Innovative Medicines and Sandoz (Biosimilars and complex generics) only.