Sandoz, a generic and biosimilar medicines manufacturer, recently opened a new production facility in Kundl, Austria, to serve more patients with affordable life-saving drugs produced entirely in Europe.
In a move to expand its ophthalmic platform, Sandoz, the former generics and biosimilars arm of Swiss drugmaker Novartis, has completed the acquisition of Coherus BioSciences’ subsidiary Coherus Ophthalmology for $170 million.
Novartis today confirmed the plan to spin off 100% of its generic drugs arm Sandoz, with trading of the new company’s shares as well as ADRs (American Depositary Receipts) to start on Oct. 4, 2023.
As Novartis moves toward shedding generics subsidiary Sandoz, which it touts as a global leader in off-patent generic and biosimilar drugs, Sandoz has agreed a multi-year strategic partnership with Just –Evotec Biologics, the Seattle, Washington-based US subsidiary of Germany’s Evotec, to develop and manufacture biosimilars.
Sandoz, the generics and biosimilars arm of Swiss drugmaker Novartis, has signed a Memorandum of Understanding to build a biologics production plant in Lendava, Slovenia.
Sandoz, the generics arm of Swiss drugmaker Novartis, has announced plans to spend an additional €50 million on raising European manufacturing capacity for finished dosage forms of amoxicillin and other key penicillin products.
In advance of the planned spinoff of generics subsidiary Sandoz into a standalone generics producer, Novartis has announced it is closing one of the subsidiary’s US plants.
Novartis has finally confirmed definite plans to spin off its generic drugs arm Sandoz.
Novartis subsidiary Sandoz has launched a generic version of Combigan, the ocular hypertensiondrug made by AbbVie’s Allergan arm. The copy of the off-patent eye drops will be marketed only in the US, where Allergan racked up sales of $373 million with the original product in 2021.
US private equity firms Blackstone and Carlyle may make a joint offer for the Novartis generics unit Sandoz, Bloomberg reports. With six other possible bidders seen as circling Basel-based Sandoz, the news agency’s sources said this sale could shape up to be one of the biggest-ever buyout deals, valued at around $25 billion.
Novartis and market watchers alike have been dropping repeated hits that a sale of the Swiss drugs giant’s Sandoz-branded generic drugs arm may be closer than has been hinted up to now. In an interview with German weekly news magazine Wirtschaftswoche last week, CEO Vas Narasimhan said, however, that beyond several requests for information no concrete offers are currently on the table.
BASF is investing in its enzymes business at the Novartis Kundl/Schaftenau Campus in Austria. The German chemical giant said the agreement with the Swiss group – for which financial details were not disclosed – will enable it to develop a world-scale operation for bacterial enzymes and biotechnology products.
Sandoz, the generics division of Swiss drugmaker Novartis, is picking up GlaxoSmithKline’s cephalosporin antibiotics business, including the brands Zinnat, Zinacef and Fortum, for up to $500 million.
