Sandoz y Novartis rompen...

 

Sandoz has completed its separation from Novartis, with the business now continuing as an independent spin-off company.

The separation allows Novartis to fully focus its attention on innovative medicines, the former parent company said, while Sandoz can continue to strengthen its position in generics and biosimilars.

In an announcement, Novartis proposed a stock distribution scheme, offering shareholders one Sandoz share for every five of its own, with all holders set to benefit from “capital and management attention fully focused on innovative medicines”.

Additionally, Novartis said that it “is well-positioned for sustained top- and bottom-line growth”.

Meanwhile, Sandoz has said that it sits in a strong position for “continued profitable growth as a standalone global leader” in generic and biosimilar medicines, following the completion of its first trading day on the SIX Swiss exchange as an independent company.

Sandoz was valued at 10.3bn Swiss francs ($11.2bn), a lower value than previously predicted by analysts of $11bn to $26bn.

Currently, generics and biosimilars account for around 80% of medicines globally, at around 25% of the total cost, with the industry set to grow steadily over the next decade.

Novartis will focus on four core therapeutic areas, cardiovascular, renal and metabolic, immunology, neuroscience and oncology, and will prioritise two established technology platforms, as well as three next-generation platforms to continue its investment in research and development (R&D) capabilities and manufacturing.

Each of these areas will provide the opportunity to address the high disease burden as well as the potential for substantial growth, particularly in the US, China, Germany and Japan.

“Sandoz starts out from a position of strength as a global leader in generics and biosimilars, and I am confident they are poised to deepen their impact on patients and society,” said Narasimhan chief executive officer of Novartis.

He added that Novartis will enter “this new era with strong financial performance and R&D momentum” to “reimagine medicine for and with patients around the globe”.

Chief executive officer of Sandoz, Richard Saynor, commented: “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.”

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