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As the demand for more affordable and accessible biologic therapies grows, the biosimilar market is experiencing a surge of momentum on a global scale. According to BioIntel360, global biosimilar market size is expected to record a CAGR of 26.2% during 2023-2027 to reach US$51 billion by 2027, increasing from US$20 billion in 2023. Over the last five years, the sector has recorded a CAGR of 28.0% to reach US$16 billion in 2022.
In this dynamic landscape, Sandoz, the well-established generics unit of the renowned pharmaceutical giant Novartis, has emerged as a trailblazer, leading the charge in revolutionizing the healthcare industry.
With a laser-focused vision and unwavering commitment to innovation, Sandoz has strategically positioned itself at the forefront of the biosimilar revolution. Leveraging its extensive expertise and resources, the company is spearheading advancements in biosimilar development and manufacturing, offering patients around the world a promising array of cost-effective and high-quality treatment options.
As the biosimilar market continues to gain traction, Sandoz's strategic moves and relentless pursuit of excellence are reshaping the industry and paving the way for a more inclusive and sustainable healthcare ecosystem.
Sandoz, the generics unit of Novartis, has reaffirmed its commitment to Slovenia by investing $90 million in a new biosimilar technical development center in Ljubljana. This state-of-the-art facility is set to become a pivotal hub for Sandoz's biosimilar development, offering end-to-end drug substance and drug product capabilities. The company aims to bolster its biosimilar expertise by hiring 200 new staff members at this location.
Slovenia has proven to be a strategic destination for Sandoz's expansion plans. The recent investment follows Sandoz's substantial commitment of $400 million towards a new manufacturing plant in Lendava, further cementing the company's presence in the Balkan country. Additionally, Sandoz has already established complex generic development capabilities in Ljubljana, indicating its longstanding interest in the region.
Not content with just focusing on Slovenia, Sandoz is also expanding its biosimilar development firepower in Holzkirchen, Germany. This coordinated effort underscores the company's commitment to advancing biosimilar, aligning with its ambitious Act4Biosimilars action plan, unveiled in June. The plan outlines Sandoz's vision to triple global biosimilar uptake over the next decade by addressing key challenges and identifying actionable steps to enhance access to biosimilar. The first report of this initiative, which focused on the Americas, offered insights into the road ahead.
Despite challenges, including a decline in revenue since 2016, Sandoz remains optimistic about its prospects. As a standalone venture, the company foresees significant revenue growth over the next five years, projecting $3 billion in sales from its pipeline products, with a major emphasis on biosimilar.
The investment in the biosimilar technical development center in Slovenia serves as a strategic move for Sandoz, solidifying its position as a leading player in the biosimilar market. The company's dedication to expanding its biosimilar portfolio is a testament to its commitment to delivering cost-effective and accessible treatments to patients globally. By investing in cutting-edge facilities and nurturing talent, Sandoz is poised to realize its ambitious vision and transform the biosimilars landscape in the years to come. As Sandoz prepares to embark on its journey as a spinoff from parent company Novartis, its focus on biosimilars is expected to fuel its future growth and success.
BioIntel360 suggests that Sandoz's unwavering dedication to advancing the biosimilar landscape exemplifies its commitment to providing patients with more accessible and affordable biologic therapies. As the demand for these innovative treatments grows globally, Sandoz has strategically positioned itself as a trailblazer in the healthcare industry. With substantial investments in Slovenia, the company is creating a robust biosimilar technical development center in Ljubljana, bolstering its capabilities and expanding its presence in the Balkan region. Additionally, Sandoz's ambitious Act4Biosimilars action plan is driving transformative change, aiming to triple global biosimilar uptake over the next decade. This forward-thinking initiative addresses key challenges and paves the way for enhanced access to biosimilars worldwide.
As Sandoz prepares to embark on its independent journey as a spinoff from Novartis, the company's focus on biosimilars is set to propel its future growth and success. By leveraging cutting-edge facilities, nurturing talent, and consistently pursuing excellence, Sandoz remains committed to reshaping the biosimilar market and fostering a more inclusive and sustainable healthcare ecosystem.
