Company name: Sandoz
Location: Holzkirchen, Germany
Annual sales (in millions): $2.494
Market share: 7.8%
Head: Jeff George
Novartis' generic unit Sandoz can trace its roots back to the late 19th century. The chemical company Kern & Sandoz was set up in Basel, Switzerland, by Dr. Alfred Kern and Edouard Sandoz in 1886. Now the company has a worldwide presence, with U.S. headquarters based in Princeton, NJ. Earlier this year, Don DeGolyer was tapped as president of the company's U.S. operations and head of commercial operations for North America.
Sandoz had a good second quarter, seeing net sales of approximately $2 billion. The company saw continued strong results from the U.S., Canada, Russia, Italy, Japan and biosimilars, according to a Novartis announcement. Also during the quarter, Sandoz completed the acquisition of Oriel Therapeutics, giving it exclusive rights to three promising projects for asthma and COPD, as well as access to their novel FreePath drug delivery technology and Solis dry powder inhaler.
It also just received approval for Sanofi-Aventis' blood thinner Lovenox. However, Sanofi has been trying to block competition to its profitable product.