Swiss Social Democrat’s for nationalization of Sandoz

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Swiss Social Democrat’s for nationalization of Sandoz

Home/Pharma News | Posted 19/11/2021 0 Post your comment

In November 2021, the Social Democratic party in Switzerland urged the government to buy Novartis AG’s generics and biosimilars unit, Sandoz.

It has been reported that Novartis is considering a possible sale or spinoff of its generics unit, Sandoz. This unit is estimated to be valued at over US$20 billion.

Samuel Bendahan, Vice President of the Social Democratic party in Switzerland stated that he believes the country’s purchase of Sandoz ‘would allow the construction of a company to serve the population, improve access to medicines, reduce future health risks and democratize research and development’.

The Sandoz generics drug unit has seen its global sales fall 4% to US$7.11 billion in the first nine months of 2021, and these were down 17% in the US. This is largely due to downward pricing pressure that has been particularly strong in the US, as well as rising competition in the generics market.

The Socials Democrats’ position to nationalize Sandoz takes into account the impact of the COVID-19 pandemic, which exposed how reliant nations in Europe are on both finished pharmaceuticals and raw materials from elsewhere in the world. The purchase or nationalization of Sandoz would secure generic drug supplies for the country.

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