Oct 20, 2021 / by admin / in: Blog
Sandoz – a division of Novartis Group – is a global leader in generic pharmaceuticals and biosimilars, and it is dedicated to discovering new ways to improve and extend people’s lives.
The recent news is that Sandoz has acquired GSK’s cephalosporin antibiotics business. The acquisition included the global rights to three brands (Zinnat, Zinacef, and Fortum). The three of which have a combined sales of approximately USD 140 million in 2020. Additionally. Their products are sold in more than 100 markets.
Sandoz is committed to increasing the growth of its antibiotic business after it announced a joint investment with the Austrian government of more than EUR 150 million. They did this to reinforce the long-term competitiveness of its Kundl antibiotic manufacturing site and help ensure long-range supply resilience.
Sandoz CEO Richard Saynor said: “Antibiotics are the backbone of modern healthcare systems and a central pillar of our worldwide Sandoz patient offering.
It will pay GSK USD 350 million at closing and other milestone payments that reach USD 150 million. The closing of the transaction is expected to end in the second half of 2021.
Moreover, they’re planning to invest more than $173 million in a vertically integrated European antibiotic network in May.
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