2023-10-05 00:02:17
The newly formed company, which boasts a strong competitive position supported by an investment grade credit rating, is optimally positioned strategically for continued profitable growth. Sandoz is positioned as the undisputed global leader and ranks first in Europe in the production and distribution of generic and biocomparable medicines.
The opening ceremony at the SIX headquarters, which took place with the symbolic ringing of the bell, marked the successful completion of the spin-off of the former parent company Novartis and the beginning of commercial operations of Sandoz Group AG. Sandoz shares are now an integral part of the Swiss Performance Index (SPI®), the Swiss Leader Index (SLI®) and other key Swiss indicators. Additionally, Sandoz American Depository Receipts (ADRs) will begin trading on the US OTCQX® in the United States.
Gilbert Ghostine, Chairman of the Board of Sandoz, emphasized: “Today marks the beginning of a new era for Sandoz as an independent company, however, our fundamental purpose remains unchanged: to pioneer access to treatments for patients. It is our specialty, what we have done so far and what we will continue to do: making affordable, high-quality medicines available to more people, in more places and in innovative ways.”
Sandoz’s purpose and brand identity are deeply rooted in an outstanding scientific and medical legacy, from the beginning of the pioneering chemical company Kern & Sandoz in 1886. From the development of Sandoz Calcium in 1929 to the launch of the first biocomparable of the world in 2006, Sandoz has been a leader in innovation in the pharmaceutical industry.
As highlighted during the Sandoz Capital Markets Day last June, six strategic drivers will guide long-term value creation: attractive market fundamentals, leadership and scale, multiple growth drivers, margin improvements, accelerated cash generation and a solid history of sustainability.
Richard Saynor, CEO of Sandoz, stated: “As an independent company, Sandoz is fully equipped to deliver a purpose-driven strategy for sustainable leadership in the growing generic and biocomparable medicines industry.”
“Through our business, we are pioneering patient access by influencing the global healthcare environment. We strengthen global health systems by generating annual savings of more than $17 billion in Europe and the United States alone. We reach around 500 million patients a year in more than 100 countries. In doing so, we generate a total social impact estimated at $180 billion annually and seek to expand our impact even further,” said Richard Saynor.
“Starting today, Sandoz will be better positioned to meet the needs of the 500 million patients we serve worldwide and more than 10 million patients in Mexico. Our brand renewal reflects our strong commitment to healthcare innovation and our dedication to addressing global healthcare challenges. Our culture is based on integrity and inclusion, with the conviction that we can all be the best we can be, living our values, contributing to the growth of our business and pioneering access to treatments for patients,” Enrique concluded. Liñero, general director of Sandoz Mexico.
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