As a newly independent company, Sandoz will concentrate on developing generic and biosimilar medicines, while its former parent company Novartis plans to drive its business forward with a strategic focus on innovative medicines.
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Sandoz, a former division of Novartis, is now a standalone company.
Going forward, the company will continue to focus on developing generic and biosimilar medicines for the European medicines market, with focus on sustainable access.
The pharmaceutical firm originally announced the proposed departure from Novartis in August 2022. To prepare for the separation, Sandoz stated in June that its headquarters would transfer to Basel, Switzerland.
Completion of the spin-off on the 4 October 2023 marks “a new era for Sandoz as an independent company” noted Sandoz’s Board Chairman, Gilbert Ghostine.
For Novartis, as a business, this new chapter will facilitate capital allocation and management attention to be wholly focused on innovative medicines, the company declared. As a result, it will concentrate on four core therapeutic areas: Cardiovascular, Renal and Metabolic (CRM), Immunology, Neuroscience, and Oncology.
Sandoz – advancing biosimilar development in Europe
Prior to the proposed spin-off being actioned, Sandoz announced in July 2023 that it planned to invest approximately $90 million to build a Biosimilar Technical Development Center in Slovenia by 2026. This would position the Ljubljana site as key location for its biosimilar product development, the company stated.
Additionally, last month in September 2023, Sandoz revealed that it would commercialise SB17, a proposed biosimilar to Janssen Pharmaceuticals’ Stelara (ustekinumab), with biotech Samsung Bioepis. The monoclonal antibody (mAb) is indicated for autoimmune disorders such as Crohn’s disease, plaque psoriasis and ulcerative colitis. At the time of the announcement, Richard Saynor, CEO of Sandoz shared that the company plans to launch five potential high-value biosimilars within the next two years.
According to Sandoz, generics and biosimilar treatments account for an estimated 80 percent of medicines used globally by volume. This is about 25 percent of the total cost. While the market is highly competitive, driven by consumer demand, the industry is set to grow steadily over the next decade, the company highlighted.
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