John Sedor, President and CEO of Sandoz, Inc., in the U.S., stated, "All of Novartis's generics companies sharing one common name will emphasize and strengthen our global network. We have the ability to obtain products more efficiently and leverage each other's strengths to best serve the needs of our customers, and ultimately our patients. Also, we're delighted to become Sandoz, a name with tremendous history and a solid reputation in the industry. It reinforces Novartis's commitment to the generics business."
Christian Seiwald, CEO of Sandoz GmbH, commented, "Over the last few years, Novartis Generics has grown extremely dynamically and has undertaken a series of strategic acquisitions. While we are currently the world's second-biggest generics group, we are not recognized as such due to the large number of different company names. The establishment of a uniform identity represents a milestone in our strategy for strengthening and harmonizing our international business."
In Seiwald's view, the Sandoz name reinforces the company's reputation for high quality and innovation, and provides the additional bonus of a company tradition going back more than a century. "We want Sandoz to become the undisputed No. 1 global name for generic pharmaceutical products," he said.
Sandoz, established in Basel, Switzerland, in 1886, was an international, branded pharmaceutical company up until the merger with Ciba Geigy in 1996, which formed Novartis. The renaming of Novartis Generics now marks the return of this time-honored name. Sandoz, a Novartis company, is a world leader in generic pharmaceuticals and develops, manufactures and markets these medicines as well as pharmaceutical and biotechnological active ingredients. Decades of experience and know-how make Sandoz a renowned partner in Pharmaceuticals, Biopharmaceuticals and Industrial Products. Altogether, Sandoz employs approximately 11,500 people worldwide and posted sales of USD 1.8 billion in 2002. More information on Sandoz can be found at http://www.sandoz.com.
In the U.S., Sandoz, Inc., is one of the largest prescription generic pharmaceutical companies. The company produces more than 200 products each year, with an annual manufacturing capability exceeding 10 billion tablets and capsules. Sandoz products range across many therapeutic drug categories including anti-infectives, anti-arthritics, cardiovasculars, gastrointestinal agents and psychotherapeutics. More information about Sandoz U.S. operations can be found at http://www.us.sandoz.com.
Novartis AG (NYSE: NVS) is a world leader in pharmaceuticals and consumer health. In 2002, the Group's businesses achieved sales of USD 20.9 billion and a net income of USD 4.7 billion. The Group invested approximately USD 2.8 billion in R&D. Headquartered in Basel, Switzerland, Novartis Group companies employ about 77,200 people and operate in more than 140 countries around the world. For further information please consult http://www.novartis.com.
This release contains certain "forward-looking statements" relating to the Group's business, which can be identified by the use of forward-looking terminology such as "coming on stream," "will be," "to become," or similar expressions, or by express or implied discussions regarding strategies, plans and expectations. Such statements reflect the current plans or views of the Group with respect to future events and are subject to certain risks, uncertainties and assumptions. Management's expectations could be affected by, among other things, competition in general, and other risks referred to in Novartis AG's Form 20-F on file with the U.S. Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected.
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For further information:
Sandra MacTavish
Communications
Sandoz (United States)
Phone +1 609 627 8571
Fax +1 609 627 8682
sandra.mactavish@gx.novartis.com
