Novartis may be in the process of spinning out its generics and biosimilar outfit, Sandoz, but that doesn't mean the latter company is pausing manufacturing investments. In fact, it's quite the opposite.
Sandoz revealed plans to spend at least $400 million on a new biologics plant in Slovenia. The site, set to be built in Lendava, will support the company's biosimilar ambitions, according to a Thursday release.
The project will be one of the largest international private sector investments in Slovenia, Sandoz said. Thursday, the company's CEO, Richard Saynor, attended a signing ceremony for a memorandum of understanding with Slovenian Prime Minister Robert Golob, Ph.D.
Sandoz expects construction to start this year. The plant should be ready to run by late 2026, according to the press release.
In terms of biosimilars, Sandoz already sells eight products in various disease areas such as immunology and oncology. The company also touts a pipeline of more than 15 molecules in development.
Sandoz's split from parent company Novartis was announced last August. At the time, the spinoff was expected to wrap up by the second half of 2023, according to a press release.
The Slovenia development isn't Sandoz's only manufacturing play in Europe in recent months. Back in November, the company said it would spend 50 million euros to expand its antibiotics manufacturing site in Kundl, Austria. With that pledge, the company had committed to spending at least 250 million euros on European antibiotics manufacturing over the last few years.