Advertisement
Document › Details
Sandoz Group AG. (10/4/23). "Press Release: Sandoz Enters New Era as Standalone Global Leader and European Champion in Generic and Biosimilar Medicines". Basel.
Organisation | Sandoz (Group) | |
Today | Novartis (Group) | |
Group | Novartis (Group) | |
Organisation 2 | Novartis AG (NYSE: NVS) | |
Group | Novartis (Group) | |
Product | DRUGS, GENERICS | |
Product 2 | DRUGS, BIOGEN, GENERICS (biosimilars / biogenerics) | |
Person | Ghostine, Gilbert (Firmenich 202205 CEO) | |
Person 2 | Saynor, Richard (Novartis 2019Q1– CEO of Sandoz) | |
> Spin-off from Novartis successfully completed with first trading day today on SIX Swiss Exchange; Sandoz shares included in key market indices
> Standalone Sandoz committed to extend leadership in stable and growing market via purpose-driven strategy with focus on sustainable access
> Differentiating investment grade credit profile and six strategic levers to drive long-term value
Sandoz, the global leader in generic and biosimilar medicines, today celebrates the start of share trading on the SIX Swiss Exchange as an independent company.
The new company is included in key SIX market indices and has an investment-grade credit rating that gives it a strong competitive position. It is well placed for continued profitable growth as a standalone global leader and European champion in generic and biosimilar medicines.
The opening bell-ringing ceremony at SIX headquarters this morning marks the successful completion of the 100% spin-off from former parent company Novartis and the start of trading in Sandoz Group AG shares. The shares are listed on the Swiss Performance Index (SPI®), the Swiss Leader Index (SLI®) and other relevant Swiss indices; Sandoz ADRs (American Depositary Receipts) will also be traded as of today on the US OTCQX®.
Sandoz Board Chairman Gilbert Ghostine says: “Today marks the dawn of a new era for Sandoz as an independent company, but our Purpose is unchanged: pioneering access for patients. It’s what we do best, have always done best, and will always do best: making quality medicines available to more people, in more places, in more and novel ways.”
The Sandoz Purpose and brand are 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, via 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 says: “As an independent company, Sandoz will be fully enabled to deliver on its purpose-driven strategy, which 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 USD 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 USD 180 billion annually. And we intend to make an even greater impact going forward.”
Generics and biosimilars account for an estimated 80% of medicines used worldwide by volume, at about 25% 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 Sandoz listing prospectus and related documents can be found here: www.sandoz.com/sandoz-spin.
Disclaimer
This Media Release contains forward-looking statements, which offer no guarantee with regard to future performance. These statements are made on the basis of management’s views and assumptions regarding future events and business performance at the time the statements are made. They are subject to risks and uncertainties including, but not confined to, future global economic conditions, exchange rates, legal provisions, market conditions, activities by competitors and other factors outside of the control of Sandoz. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. Each forward-looking statement speaks only as of the date of the particular statement, and Sandoz undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.
About Sandoz
Sandoz (SIX: SDZ; OTCQX: SDZNF) is the global leader in generic and biosimilar medicines, with a growth strategy driven by its Purpose: pioneering access for patients. 22,000 people of more than 100 nationalities work together to bring Sandoz medicines to some 500 million patients worldwide, generating substantial global healthcare savings and an even larger total social impact. Its leading portfolio of more than 1500 products addresses diseases from the common cold to cancer. Headquartered in Basel, Switzerland, Sandoz traces its heritage back to the year 1886. Its history of breakthroughs includes Calcium Sandoz in 1929, the world’s first oral penicillin in 1951, and the world’s first biosimilar in 2006. In 2022, Sandoz achieved sales of USD 9.1 billion and core EBITDA of USD 1.9 billion.
Global Media Relations contacts
Global.MediaRelations@sandoz.com
Joerg E. Allgaeuer
+49 171 838 4838
Chris Lewis
+49 174 244 9501
Investor Relations contacts
Investor.Relations@sandoz.com
Karen M. King
+1 609 722 0982
Laurent de Weck
+41 79 795 7364
Sandoz on social media
X (Twitter)
Facebook https://www.linkedin.com/company/sandoz
https://twitter.com/sandoz_global
https://www.instagram.com/sandozglobal
https://www.facebook.com/sandozglobal
CEO Richard Saynor on LinkedIn https://www.linkedin.com/in/richard-saynor
Record changed: 2024-01-06 |
Advertisement
More documents for Novartis (Group)
- [1] Generative:Biomedicines. (9/24/24). "Press Release: Generate:Biomedicines Announces Multi-Target Collaboration with Novartis to Discover and Develop Protein Therapeutics with Generative AI". Somerville, MA....
- [2] Epsilogen Ltd.. (9/9/24). "Press Release: Epsilogen Completes £12.5 Million Series B Financing Expansion". London....
- [3] Novartis Pharmaceuticals Corporation (Novartis US). (9/4/24). "Press Release: Novartis Begins Construction of Two New Radioligand Therapy Facilities in the US, Expanding Its World-class RLT Manufacturing and Supply Network". East Hanover, NJ....
- [4] Lindy Biosciences Inc.. (8/28/24). "Press Release: Lindy Biosciences Enters Licensing and Collaboration Agreement With Novartis for Multi-target Drug Delivery Innovation". Raleigh, NC....
- [5] Novartis AG. (8/22/24). "Press Release: Novartis Employs Creative Deal Structure to Establish Borealis Biosciences – Divests Legacy Chinook Site, Invests to Form New Company and Engages in R&D collaboration"....
- [6] Dren Bio, Inc.. (7/24/24). "Press Release: Dren Bio Announces Strategic Collaboration with Novartis to Develop Novel Targeted Myeloid Engagers for Cancer". Foster City, CA....
- [7] Oxford Biomedica plc. (7/17/24). "Press Release: Oxford Biomedica Announces Chief Financial Officer Transition. Lucinda Crabtree to Join as Chief Financial Officer". Basel....
- [8] Evotec SE. (7/8/24). "Press Release: Just – Evotec Biologics Expands Tech Partnership for Biosimilars with Sandoz". Hamburg & Seattle, WA....
- [9] MorphoSys AG. (6/6/24). "Press Release: Arkadius Pichota and Lukas Gilgen Appointed to Management Board of MorphoSys AG Replacing the Current CEO and CFO (Ad hoc)". Planegg....
- [10] Novartis AG. (5/2/24). "Press Release: Novartis Enters Agreement to Acquire Mariana Oncology, Strengthening Radioligand Therapy Pipeline". Basel....
To subscribe to our free, monthly newsletter for the European life sciences, please send an e-mail to info@iito.de and simply fill the subject line with the word »LSE Newsletter«
Find more infos about advertising at [iito] web portals in our media flyer [iito] in a Nutshell [PDF file]
Advertisement
» top