Sandoz, a global leader in generic and biosimilar medicines, marked a significant milestone today as it began trading as an independent company on the SIX Swiss Exchange. This momentous occasion follows the successful completion of its spin-off from former parent company Novartis.
The opening bell-ringing ceremony at SIX headquarters signalled the start of a new era for Sandoz, with its shares now listed on the Swiss Performance Index (SPI®), the Swiss Leader Index (SLI®), and other relevant Swiss indices. Sandoz American Depositary Receipts (ADRs) will also be traded on the US OTCQX® as of October 4th, 2023.
Sandoz Board Chairperson Gilbert Ghostine says: “We mark the dawn of a new era for Sandoz as an independent company, but our purpose is unchanged; pioneering access for patients.”
“We already actively pioneer access for patients by shaping the global healthcare environment. We strengthen healthcare systems worldwide by delivering over $17bn 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 $180bn 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.
Sameh El-Bagoury, Country Head Sandoz Egypt and Libya, states: “Since October 4th, 2023, Sandoz has been better able to meet the needs of the half a billion patients we serve around the world, including 12 million patients in Egypt. Our refreshed brand reflects our enduring commitment to healthcare innovation and our dedication to meeting the global healthcare challenge head-on. Furthermore, we affirm our commitment to providing high-quality medications at affordable prices.”
