A Sandoz’s staff member at work. The company became an independent company after a spin off from Novartis. — Photo courtesy of sandoz.com

Global generic and biosimilar medicines company Sandoz recently completed its 100 per cent spin-off from former parent company Novartis.

Shares of the company on Wednesday started trading on the SIX Swiss Exchange as an independent company.

The new company is included in key SIX market indices and has an investment-grade credit rating that gives it a strong competitive position. It is well placed for continued profitable growth as a standalone global leader and European champion in generic and biosimilar medicines.

Following the action, the local Sandoz Vietnam team announced it will receive its final license to complete the legal transition to this new entity in early 2024.

“From today, Sandoz will be better able to meet the needs of the half a billion patients we serve around the world and more than five million Vietnamese patients who rely on our treatments here,” said Charaf Kadri, general manager of Sandoz Vietnam.

“Our refreshed brand reflects our enduring commitment to healthcare innovation and our dedication to meeting the global healthcare challenge head-on with our range of high quality, accessible, international-standard products that address our direct focus on the needs of patients here in Việt Nam,” he said.

As outlined at the Sandoz capital markets day in June, the company’s six strategic levers that should drive long-term value include attractive market fundamentals, leadership and scale, multiple growth drivers, margin improvement, accelerated cash generation, and a compelling sustainability story.

Generics and biosimilars account for an estimated 80 per cent of medicines used worldwide by volume, at about 25 per cent of the total cost. Despite strong competitive pressures, the industry is set to grow steadily over the next decade, driven by underlying demand for these system-critical medicines.

Sandoz, headquartered in Basel, Switzerland is the global leader in generic and biosimilar medicines, with a growth strategy driven by its purpose of pioneering access for patients. Its leading portfolio of more than 1,500 products addresses diseases from the common cold to cancer. — VNS