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.”
If you want to find more details about Novartis and read the latest business news of the day, download for free our companion app Born2Invest.
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.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Why the Global Fintech Sector Is Seeing a Decline in Activity
The volume of fintech deals in 2023 fell about 70 percent from the 2021 peak, making it more similar to...
The End of Cannabis in Thailand? The Ministry of Health Introduces a Ban
This legislative change represents a decisive turn in the drug policy of a country that until recently was a leader...
Solana and Meme Coins Are Hugely Positive – Bitcoin Is Driving the Market
As the number one Solana meme coin, BONK is currently up a good 80 percent weekly. You can turn the...
Grifols Rebounds 20% on the Stock Market Due to Its Cash Flow Data and the Sale of Shanghai Raas
Grifols' guidance for 2024 estimates recording an adjusted EBITDA of more than 1.8 billion euros, as well as a free...
When to Buy, When to Sell?Look at the Dow Jones Dividend Yield
The next time the Dow Jones Dividend Yield increased to above 3% was during the March 2020 Flash Crash, where...
Africa2 weeks ago
Agadir: Nearly 21 Million dirhams for the Development of Car Parks
Impact Investing4 days ago
How Much Does Europe Invest in Sustainability
Cannabis2 weeks ago
Why Lauterbach’s Cannabis Law Is Criticized
Cannabis1 week ago
Germany Has Legalized the Possession and Cultivation of Cannabis