BRIEF—Sandoz to build new manufacturing facility

Generics and biosimiliars company Sandoz has signed a memorandum of understanding to build a new biologics production plant in Slovenia, with an expected investment of over $400 million.

Sandoz, a subsidiary of Swiss pharma giant Novartis, views the site, which should be ready by 2026, as an important part of its strategy to grow its global biosimilars portfolio.

Chief executive Richard Saynor said the company had an ambition to be "the sustainable global leader in biosimilars, a segment projected to grow double-digit annually over the next decade.”

The company has also announced a $53 million investment to expand its Europe-based antibiotics production network.