Novartis Will Build a Biosimilars Technical Center for $90 Million

Novartis expands its portfolio of services. The biotech company will build a $90 million Biosimilars Technical Development Center for Sandoz in Slovenia. Sandoz is the generic and biosimilar medicines division of the Swiss pharmaceutical company.

The construction of this center on Slovenian land will allow the development of biosimilar products to be expanded. In addition, this site will have the possibility of creating more than two hundred jobs and strengthening the comprehensive development of biosimilar pharmaceutical substances and products.

Sandoz Chief Scientific Officer Claire D’Abreu explains that “the new center in Slovenia will help Sandoz meet the growing global demand for biosimilars and make an even more significant contribution to the long-term viability of healthcare systems around the world.”

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Sandoz, (a division of Novartis) with the creation of this development center in Slovenia will be able to expand its portfolio of biosimilar pharmaceutical products

Biosimilars are a tool to prevent numerous debilitating and life-threatening conditions, including various types of cancer, psoriasis, and arthritis. They drive competition and cost savings, helping to address the increasing cost pressures facing global healthcare systems.

Sandoz has also mentioned that it currently has a pipeline of eight commercialized biosimilar products and 24 molecules in various stages of development.

Sandoz is a division of Novartis, that develops generic and biosimilar pharmaceuticals containing a broad portfolio of medicines covering all major therapeutic areas.

The Swiss pharmaceutical company reached $4.6 billion in profit in the first half of 2023, 17.8% more than in 2022. The Swiss company will also launch a $15 billion share repurchase plan until 2025.

Novartis is aiming for its annual sales to grow in the high single digits this year when it previously estimated they would grow in the mid-single digits. In addition, it expects its core operating income to grow to a low double-digit level, versus a previous forecast of a high single-digit increase.

Novartis is a pharmaceutical and biotechnology company headquartered in Basel, Switzerland. The company was born as a result of the merger between Cibba-Geigy and Sandoz in 1996. The company focuses its activity in three divisions: innovative medicines, vision care and generic and biosimilar medicines.

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(Featured image by Hans via Pixabay)

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