Swiss pharmaceutical maker Sandoz AG said Wednesday it will spin off its chemical unit as a separate company called Clariant and sell its shares to the public. Sandoz earlier had said it planned to sell the chemical division in order to concentrate more on its drug and nutrition operations. Up to 100 percent of Clariant shares will be offered to investors worldwide and are expected to fetch from $1.8 billion to $2 billion, or 1.6 billion to 1.8 billion Swiss francs.