Swiss drugmaker Novartis’s Sandoz generics business is in the process of selling or closing some products in the United States, it said on Wednesday.
“In response to high price pressure, we are optimizing our U.S. portfolio. This includes the sale or discontinuation of certain non-core products and concentration of investment in strategic areas that will drive growth and improve access,” it said in a statement in response to a report by the Swiss newspaper Handelszeitung.
“As we continue to refine our portfolio, it is clear that the U.S. market is a very important market for Sandoz and will continue to be in the future,” it added.
Reuters had reported last month that Novartis was working with Centerview to examine options for its dermatology business, including a possible sale, as it trims non-core assets. [nL8N1N889J]
By Paul Arnold
Source: Reuters
CordenPharma announced its largest strategic investment to date, committing to spend ~€900m over the next three years to enhance its peptide technology platform. The planned investment consists of two major expansion initiatives occurring in parallel in the US and Europe, including both existing facilities and new constructions.
DSM-Firmenich has announced the sale of its MEG-3 fish oil business to KD Pharma Group, a contract development and manufacturing organisation that is active in pharmaceutical and nutritional lipids. As part of the transaction, DSM-Firmenich will obtain a minority stake of 29% in KD Pharma’s parent company O³ Holding GmbH.
Veranova, a development and manufacturing of specialist and complex APIs for the pharmaceutica l and biotech sectors, recently announced the appointment of Cécile Maupas as Senior Vice President, Chief Commercial Officer. Cécile will join the executive team and assume responsibility for business development, marketing, project management, commercial operations, and product management.