Sandoz, a global leader in generic and biosimilar medicines, successfully completed its separation from Novartis on October 4 with its first trading day on the SIX Swiss Exchange (SIX).
Sandoz Board chairman Gilbert Ghostine said, “Today marks the dawn of a new era for Sandoz as an independent company, but our purpose, to pioneer access for patients, remains unchanged. It’s what we do best, have done best, and will always do best. We make quality medicines available to more people, in more places, in more and novel ways.”
The Sandoz brand is deeply rooted in its scientific heritage and legacy of medical firsts since the foundation of chemical pioneer Kern & Sandoz back in 1886. From the development of Calcium Sandoz in 1929, and the world’s first oral penicillin in 1951, to the launch of the world’s first biosimilar in 2006.
As outlined at the Sandoz Capital Markets Day in June, six strategic levers should drive long-term value. Attractive market fundamentals, leadership and scale, multiple growth drivers, margin improvement, accelerated cash generation, and a compelling sustainability story.
|CEO Richard Saynor
CEO Richard Saynor said, “As an independent company, Sandoz will be fully enabled to deliver on its purpose-driven strategy that targets sustainable leadership in the growing and critical generics and biosimilars industry.”
“We already actively pioneer access for patients by shaping the global healthcare environment. We strengthen healthcare systems worldwide by delivering over $17 billion in annual savings in Europe and the US alone, and we reach some 500 million patients a year in over 100 countries. In doing so, we generate a total social impact estimated to be $180 billion annually. And we intend to make an even greater impact going forward.”
Generics and biosimilars account for an estimated 80 per cent of medicines used worldwide by volume, at about 25 per cent of the total cost. Despite strong competitive pressures, the industry is set to grow steadily over the next decade, driven by underlying demand for these system-critical medicines.
The local Sandoz Vietnam team, led by general manager Charaf Kadri, will receive its final licence to complete the legal transition to this new entity in early 2024.
Commenting on the new brand, Charaf Eddine Kadri said, “From today, Sandoz will be better able to meet the needs of the half a billion patients we serve around the world and more than five million Vietnamese patients who rely on our treatments here. Our refreshed brand reflects our enduring commitment to healthcare innovation and our dedication to meeting the global healthcare challenge head-on with our range of high quality, accessible, international-standard products that address the needs of our patients here in Vietnam. As a company, our culture is founded on integrity and inclusion, with the intention that we can all be at our best – living our values, doing what we can to drive business growth and pioneering access to patients all over Vietnam.”
Sandoz Vietnam currently employs 140 associates and is included in key SIX market indices with an investment-grade credit rating that gives it a strong competitive position.
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