Sandoz Targets $650 Billion Opportunity With Biosimilars Unit

Swiss generic drugmaker Sandoz Group AG has created a global biosimilars unit to capitalize on drugs worth $650 billion losing patent protection over the next decade.

“This change will enable us to focus our efforts more sharply on accelerating biosimilar growth while further strengthening our generic operations to increase our competitive edge,” Chief Executive Officer Richard Saynor said in a statement on Tuesday.