Sandoz CEO Saynor sees great opportunity in weight loss injections
Published: Tuesday, Oct 1st 2024, 09:50
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The hype surrounding weight loss injections has dominated the headlines for months. More and more companies want to jump on the wave. Sandoz CEO Richard Saynor also sees the preparations as a great opportunity for the generics manufacturer.
"We have a product in the pipeline for six of the eight medicines that are on the market today," the Briton announced in an interview with the Handelszeitung (HaZ). Sandoz is well positioned to play an important role in shaping the market for these products.
The first patents for the active ingredient in Wegovy, Novo Nordisk's diabetes and weight loss drug, expired in Brazil and Canada in 2026. "After all, the latter is the second largest market for the drug worldwide," says Saynor. Things will really take off after 2030, when the products become generic in the USA and Europe.
It is difficult to say how large the share of this market will ultimately be for generics manufacturers. "Two years ago, we weren't even talking about these medicines." He has never experienced anything like this in the 35 years he has been in the business.
"In my view, the decisive factor will be how the payers and the competition behave and how far the original manufacturers will lower their prices," adds Saynor.
Generics business stabilized
When asked how it is that Sandoz sees the USA as a secondary market rather than the main market, the CEO of the former Novartis subsidiary points to the aggressive litigation and discount policy of originator manufacturers. "Some pharmaceutical companies are virtually overwhelming generics manufacturers with lawsuits and negotiating sophisticated discount systems with wholesalers to make it more difficult for them to access the market." The main problem is clearly the enormous legal risks.
At least the generics business has stabilized. Unlike the business with biosimilars, the generics business is not a growth driver - but it is valuable.
With regard to the generics business, Saynor believes that perceptions are also slowly changing: "My impression is that things are moving. Today, we generics manufacturers are perceived more as part of the solution and no longer as part of the problem than we were a few years ago," says the manager, referring to the ongoing price debate.
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