Sandoz, the global leader in generic and biosimilar medicines, today celebrates the start of share 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.
“At Sandoz, our Purpose is unchanged: pioneering access for patients. It’s what we do best, have always done best, and will always do best: making affordable quality medicines available to more people, in more places, in more and novel ways,” says Gilbert Ghostine Chairman of Sandoz.
The opening bell-ringing ceremony at SIX headquarters this morning marks the successful completion of the 100% spin-off from former parent company Novartis and the start of trading in Sandoz Group AG shares. The shares are listed on the Swiss Performance Index (SPI®), the Swiss Leader Index (SLI®) and other relevant Swiss indices; Sandoz ADRs (American Depositary Receipts) will also be traded as of today on the US OTCQX®.
Sandoz Board Chairman Gilbert Ghostine
Sandoz Board Chairman Gilbert Ghostine says: “Today marks the dawn of a new era for Sandoz as an independent company, but our Purpose is unchanged: pioneering access for patients. It’s what we do best, have always done best, and will always do best: making quality medicines available to more people, in more places, in more and novel ways.”
The Sandoz Purpose and brand are deeply rooted in its scientific heritage and legacy of medical firsts since the foundation of chemical pioneer Kern & Sandoz back in 1886: from the development of Calcium Sandoz in 1929, via the world’s first oral penicillin in 1951, to the launch of the world’s first biosimilar in 2006.
“As an independent company, Sandoz will be fully enabled to deliver on its purpose-driven strategy, which targets sustainable leadership in the growing and critical generics and biosimilars industry… we intend to make an even greater impact going forward.”
As outlined at the Sandoz Capital Markets Day in June, six strategic levers should drive long-term value: attractive market fundamentals, leadership and scale, multiple growth drivers, margin improvement, accelerated cash generation, and a compelling sustainability story.
Sandoz CEO Richard Saynor
CEO Richard Saynor says: “As an independent company, Sandoz will be fully enabled to deliver on its purpose-driven strategy, which targets sustainable leadership in the growing and critical generics and biosimilars industry.”
“We already actively pioneered access for patients by shaping the global healthcare environment. We strengthen healthcare systems worldwide by delivering over USD 17 billion in annual savings in Europe and the US alone and we reach some 500 million patients a year in over 100 countries. In doing so, we generate a total social impact estimated to be USD 180 billion annually. And we intend to make an even greater impact going forward.”
Generics and biosimilars account for an estimated 80% of medicines used worldwide by volume, at about 25% 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 in Philippines
Sandoz Philippines Country Head Michael Paul Batillano says: “From today, Sandoz will be better able to meet the needs of the half a billion patients we serve around the world and the vast majority of Filipinos needing quality affordable medicines. Our refreshed brand reflects our enduring commitment to healthcare innovation and our dedication to meeting the global healthcare challenge head-on. Our culture is founded on integrity and inclusion, with the intention that we can all be at our best – living our values, doing what we can to drive business growth and pioneering access to patients. Our unmatched product portfolio and diverse mix of local talent are ready to positively impact the Philippine healthcare landscape. By working alongside key stakeholders in both the private and government sectors, together we can create an environment where quality affordable medication becomes the definitive choice for patients across the country.”