fbpx

Sandoz finalized acquisition of GSK’s cephalosporin antibiotics business

Oct 20, 2021 / by admin / in: Blog

, Sandoz finalized acquisition of GSK’s cephalosporin antibiotics business

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.

Read: SUPPLEMENT SALES SEE MORE THAN 50% YEAR-OVER-YEAR GROWTH ON AMAZON!

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.

Read: AN AWARENESS CAMPAIGN ON MENTAL HEALTH LAUNCHED BY THE MOH IS ALIVE AND KICKING

Do you wish to be heard and make an impact on social media? Contact one of our team members and get more people to engage with you online now!

Comments

comments


contact

Let’s do something amazing. Get in Touch!

Leave a Message