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Novartis’ Sandoz to generate additional $3 billion in net sales over next five years
© Reuters. FILE PHOTO: The company’s logo is seen at the new cell and gene therapy factory of Swiss drugmaker Novartis in Stein, Switzerland, November 28, 2019. REUTERS/Arnd Wiegmann
LONDON (Reuters) – Novartis’ soon to be spun off generics division Sandoz is expected to expand its pipeline and generate an additional $3 billion in net sales over the next five years, the Swiss group said on Thursday.
The company intends to carve out Sandoz, which sells generics and biosimilars – cheap versions of biologic drugs made from living organisms – and generated about $9 billion in sales last year, to sharpen its focus on its patented prescription medicines in the second half of this year.
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