Sandoz enters new era as standalone global leader and European champion in generic and biosimilar medicines

  • Spin-off from Novartis successfully completed with first trading day today on SIX Swiss Exchange; Sandoz shares included in key market indices
  • Standalone Sandoz committed to extend leadership in stable and growing market via purpose-driven strategy with focus on sustainable access
  • Differentiating investment grade credit profile and six strategic levers to drive long-term value

Basel, October 4, 2023 – Sandoz, the global leader in generic and biosimilar medicines, today celebrates the start of share trading on the SIX Swiss Exchange as an independent company.

The new company is included in key SIX market indices and has an investment-grade credit rating that gives it a strong competitive position. It is well placed for continued profitable growth as a standalone global leader and European champion in generic and biosimilar medicines.

The opening bell-ringing ceremony at SIX headquarters this morning marks the successful completion of the 100% spin-off from former parent company Novartis and the start of trading in Sandoz Group AG shares. The shares are included in the Swiss Performance Index (SPI®), the Swiss Leader Index (SLI®) and other relevant Swiss indices; Sandoz ADRs (American Depositary Receipts) will also be traded as of today on the US OTCQX®.

Sandoz Board Chairman Gilbert Ghostine says: “Today marks the dawn of a new era for Sandoz as an independent company, but our Purpose is unchanged: pioneering access for patients. It’s what we do best, have always done best, and will always do best: making quality medicines available to more people, in more places, in more and novel ways.”

The Sandoz Purpose and brand are deeply rooted in its scientific heritage and legacy of medical firsts since the foundation of chemical pioneer Kern & Sandoz back in 1886: from the development of Calcium Sandoz in 1929, via the world’s first oral penicillin in 1951, to the launch of the world’s first biosimilar in 2006.

As outlined at the Sandoz Capital Markets Day in June, six strategic levers should drive long-term value: attractive market fundamentals, leadership and scale, multiple growth drivers, margin improvement, accelerated cash generation, and a compelling sustainability story.

CEO Richard Saynor says: “As an independent company, Sandoz will be fully enabled to deliver on its purpose-driven strategy, which targets sustainable leadership in the growing and critical generics and biosimilars industry.”

“We already actively pioneer access for patients by shaping the global healthcare environment. We strengthen healthcare systems worldwide by delivering over USD 17 billion in annual savings in Europe and the US alone and we reach some 500 million patients a year in over 100 countries. In doing so, we generate a total social impact estimated to be USD 180 billion annually. And we intend to make an even greater impact going forward.”

Generics and biosimilars account for an estimated 80% of medicines used worldwide by volume, at about 25% of the total cost. Despite strong competitive pressures, the industry is set to grow steadily over the next decade, driven by underlying demand for these system-critical medicines.

The Sandoz listing prospectus and related documents can be found here:
www.sandoz.com/sandoz-spin

Disclaimer
This Media Release contains forward-looking statements, which offer no guarantee with regard to future performance. These statements are made on the basis of management’s views and assumptions regarding future events and business performance at the time the statements are made. They are subject to risks and uncertainties including, but not confined to, future global economic conditions, exchange rates, legal provisions, market conditions, activities by competitors and other factors outside of the control of Sandoz. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. Each forward-looking statement speaks only as of the date of the particular statement, and Sandoz undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.

About Sandoz
Sandoz (SIX: SDZ; OTCQX: SDZNY) is the global leader in generic and biosimilar medicines, with a growth strategy driven by its Purpose: pioneering access for patients. 22,000 people of more than 100 nationalities work together to bring Sandoz medicines to some 500 million patients worldwide, generating substantial global healthcare savings and an even larger total social impact. Its leading portfolio of more than 1500 products addresses diseases from the common cold to cancer. Headquartered in Basel, Switzerland, Sandoz traces its heritage back to the year 1886. Its history of breakthroughs includes Calcium Sandoz in 1929, the world’s first oral penicillin in 1951, and the world’s first biosimilar in 2006. In 2022, Sandoz achieved sales of USD 9.1 billion and core EBITDA of USD 1.9 billion.

Global Media Relations contacts Investor Relations contacts
Global.MediaRelations@sandoz.com Investor.Relations@sandoz.com
Joerg E. Allgaeuer
+49 171 838 4838
Karen M. King
+1 609 722 0982
Chris Lewis
+49 174 244 9501
Laurent de Weck
+41 79 795 7364
Sandoz on social media
LinkedIn
X (Twitter)
Instagram
Facebook
https://www.linkedin.com/company/sandoz
https://twitter.com/sandoz_global
https://www.instagram.com/sandozglobal
https://www.facebook.com/sandozglobal
CEO Richard Saynor on LinkedIn https://www.linkedin.com/in/richard-saynor

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New IBFD Singapore Masterclass on the Latest Global Developments in Transfer Pricing

IBFD Singapore Masterclass on the Latest Global Developments in Transfer Pricing

Navigate the rapidly changing landscape of transfer pricing

AMSTERDAM, Oct. 04, 2023 (GLOBE NEWSWIRE) — IBFD is delighted to announce its upcoming Singapore Masterclass, scheduled for 20-22 November 2023, at the prestigious Hilton Singapore Orchard. This immersive 3-day course is designed to equip tax professionals with the knowledge and insights needed to navigate the rapidly changing landscape of transfer pricing.

The global tax landscape is evolving at an unprecedented pace, driven by initiatives like the OECD Base Erosion and Profit Shifting (BEPS) Project 2.0, increased compliance requirements, data sharing among tax authorities and shifting geopolitical dynamics. Multinationals are re-evaluating their supply chains in response to these challenges, all while environmental, social and governance (ESG) issues take centre stage. The IBFD Singapore Masterclass will address these transformations and provide valuable insights into their implications.

Key Questions Addressed at the Masterclass:

  • How do OECD’s Pillar One and Two impact transfer pricing policies and processes?
  • What is the influence of ESG transformations on value creation?
  • How can technology empower organizations to meet compliance requirements and perform risk assessments effectively?
  • How can one prepare for transfer pricing disputes in these turbulent times?

Real-World Scenarios and Best Practices

Through case studies that apply principles to real-world scenarios and the sharing of best practices, attendees will gain insights into specific transfer pricing transactions, including services, intra-group financing and intangibles.

IBFD’s Singapore Masterclass promises to be an invaluable opportunity for professionals seeking to stay ahead in the dynamic world of transfer pricing. Secure your spot today to gain essential insights and practical knowledge that will drive success in your organization.

Participants can benefit from a 10% discount if they register before 15 October 2023. Find more details at https://www.ibfd.org/shop/training/transfer-pricing-and-global-transformation.

Contact information: Phil Windus, Senior Marketing Coordinator: p.windus@ibfd.org.

About IBFD

IBFD is a leading international provider of cross-border tax expertise, with a long-standing history of supporting and contributing to tax research and academic activities. As an independent foundation, IBFD utilizes its global network of tax experts and its Knowledge Centre to serve Fortune 500 companies, governments, international consultancy firms and tax advisers.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/244647a2-8858-4f4d-ac6f-55b281fa1a17

GlobeNewswire Distribution ID 8943400

Policane® Natural Sweetener Found to Have Low Glycemic Index

Policane® Natural Sweetener

Delicious & Healthy Policane®

OCALA, Fla., Oct. 03, 2023 (GLOBE NEWSWIRE) — Policane®, a natural sweetener made from sugar cane juice in a patented process, has been found to have a low glycemic index (GI) in a study by IFP Suisse SA. According to the study Policane® has a GI of 51.7+/- 3.66. The study also found that Policane® had a 42% lower GI than white sugar. In its conclusion, the study recommends for Policane® a low glycaemic index product classification under International Standard ISO26642.

“We are excited to share the results of this study, providing that Policane® is a low-GI sweetener,” said Jorge Enrique Gonzalez, Manager and CEO at PoliCane Co., LLC. “Policane® retains the best parts of the sugar cane stripped away in refined sugar. Policane® is a natural and sustainable sweetener that the world needs.”

Policane® is currently produced under license in Costa Rica and can be used in recipes for all sweetened food and beverages, including baked goods, coffee, tea, colas, sauces, ketchup and desserts.

For more information about Policane®, see www.policane.net. For information concerning licensing, production and order contact: marianaagonzalez@policane.net

Contact:

Mariana Gonzalez,
Chief Operations Officer
PoliCane Co., LLC
marianaagonzalez@policane.net

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(Asiad) Bundesliga midfielder stays hot to send S. Korea into men’s football final

When you’re hot, you’re hot.

VfB Stuttgart attacker Jeong Woo-yeong scored a pair to help South Korea get past Uzbekistan 2-1 in the semifinals of the Asian Games men’s football tournament in Hangzhou, China, on Wednesday. South Korea now sit a win away from winning their third straight gold medal, with Japan standing in the way to the top of the podium.

With two goals against Uzbekistan at Huanglong Sports Centre Stadium, Jeong now leads the competition with seven goals in six contests.

Jeong Woo-yeong of South Korea celebrates after scoring against Uzbekistan during the teams’ semifinals match of the men’s football tournament at Huanglong Sports Centre Stadium in Hangzhou, China, on Oct. 4, 2023. (Yonhap)

Jeong Woo-yeong of South Korea celebrates after scoring against Uzbekistan during the teams’ semifinals match of the men’s football tournament at Huanglong Sports Centre Stadium in Hangzhou, China, on Oct. 4, 2023. (Yonhap)

Jeong will most likely finish the tournament as the top scorer. His closest pursuer, Mohammed Maran of Saudi Arabia, is already out of the tournament. Among the players still alive in the competition, three South Koreans, Hong Hyun-seok, Paik Seung-ho and Cho Young-wook, have three goals apiece. Kotaro Uchino of Japan also has three.

Three South Korean players before Jeong have led the Asian Games in goals, including Jeong’s head coach in Hangzhou, Hwang Sun-hong.

Jeong opened his tournament with a hat trick against Kuwait on Sept. 19 and hasn’t looked back since.

Against Uzbekistan, Jeong used his smart positioning and industrious off-ball movements to find the right spots at the right time.

Jeong Woo-yeong of South Korea celebrates after scoring against Uzbekistan during the teams’ semifinals match of the men’s football tournament at Huanglong Sports Centre Stadium in Hangzhou, China, on Oct. 4, 2023. (Yonhap)

Jeong Woo-yeong of South Korea celebrates after scoring against Uzbekistan during the teams’ semifinals match of the men’s football tournament at Huanglong Sports Centre Stadium in Hangzhou, China, on Oct. 4, 2023. (Yonhap)

On Jeong’s first goal, midfielder Lee Kang-in fooled defenders with a fake shot off a free kick and instead passed the ball to Um Won-sang speeding down the right side of the box. Um centered the ball to Jeong, who got himself open behind the defense for an easy goal.

The second goal, which broke a 1-1 deadlock, might have been even easier, as he took advantage of some shaky defending by Uzbekistan. Due to apparent miscommunication, Saidazamat Mirsaidov and Asadbek Rakhimzhonov both failed to clear a loose ball out of harm’s way, hanging goalkeeper Vladimir Nazarov out to dry. Jeong came out of nowhere to pounce on the ball and rolled it into the net.

South Korea hung on for the narrow lead Jeong provided. Jeong’s two goals came on the only two shots on target that South Korea had in this match.

Jeong Woo-yeong of South Korea (2nd from R) attempts a shot against Uzbekistan during the teams’ semifinals match of the men’s football tournament at Huanglong Sports Centre Stadium in Hangzhou, China, on Oct. 4, 2023. (Yonhap)

Jeong Woo-yeong of South Korea (2nd from R) attempts a shot against Uzbekistan during the teams’ semifinals match of the men’s football tournament at Huanglong Sports Centre Stadium in Hangzhou, China, on Oct. 4, 2023. (Yonhap)

Source: Yonhap News Agency

(Asiad) High jumper Woo Sang-hyeok honored to have last duel with world champ Barshim

At the final of the men’s high jump at Hangzhou Olympic Sports Centre Stadium during the 19th Asian Games on Wednesday, only two athletes were left for the height of 2.33 meters: Woo Sang-hyeok of South Korea and Mutaz Barshim of Qatar.

They were the only two jumpers who have cleared every height in a single attempt to reach the final height.

After completing the 2.33m bar, the two tried 2.35m, where the Qatari outclassed the South Korean.

All spotlights were on the head-to-head of the world-class jumpers, who have frequently shared the podiums at international track and field competitions in recent years.

Woo Sang-hyeok of South Korea (L) and Mutaz Barshim of Qatar bite their medals after the men’s high jump final at Hangzhou Olympic Sports Centre Stadium in Hangzhou, China, during the 19th Asian Games on Oct. 4, 2023. (Yonhap)

Woo Sang-hyeok of South Korea (L) and Mutaz Barshim of Qatar bite their medals after the men’s high jump final at Hangzhou Olympic Sports Centre Stadium in Hangzhou, China, during the 19th Asian Games on Oct. 4, 2023. (Yonhap)

“When I was younger, Barshim was my hero. I thought a lot about whether I could be in a position to compete with him,” Woo told reporters at the mixed zone. “It’s such an honor that I can try for the same height with him at every competition.”

The two vied for gold at the 2022 World Athletics Championships held in Eugene, Oregon, where Barshim cleared 2.37m for gold and Woo finished at 2.35m for silver. The two had such game-closing attempts several times in Diamond League competitions throughout the season, with Barshim leading the head-to-head 10-2.

The one-sided results repeated at this year’s Asian Games, as Barshim won his third Asiad champion crown and Woo took his second silver.

Woo Sang-hyeok (L) of South Korea and Mutaz Barshim of Qatar high-five after the men’s high jump final at Hangzhou Olympic Sports Centre Stadium in Hangzhou, China, during the 19th Asian Games on Oct. 4, 2023. (Yonhap)

Woo Sang-hyeok (L) of South Korea and Mutaz Barshim of Qatar high-five after the men’s high jump final at Hangzhou Olympic Sports Centre Stadium in Hangzhou, China, during the 19th Asian Games on Oct. 4, 2023. (Yonhap)

But the 27-year-old South Korean, nicknamed “smile jumper” for his huge smiles before and after attempts, said he is not dissatisfied with the losses to the Qatari, a three-time world champion and 2021 Olympic gold medalist, but enjoys the rivalry with his longtime hero.

“He fuels my competitive spirit. I think I engage in good-natured competition with him, and that helps me grow,” he said. “Thanks to him, I’m happy to enjoy high jump much better.”

Moreover, Woo said the neck-and-neck duel in Hangzhou made his second silver medal far brighter than the one he earned five years ago at the 2018 Asiad, when he was an up-and-comer.

“At that time, I forced myself to run. I felt pressure every time I jumped even though I loved high jump,” he said. “Now, I’m enjoying this sport, and I’m happy to jump.”

Now, he is targeting the Paris Olympics next year, expecting to repeat another last-minute contest with the Qatari and break his personal best of 2.35m outdoors.

In the final at the Hangzhou Asiad, he tried 2.37m to get a slim chance for a come-from-behind victory but failed to jump over it.

“I’ll take on 2.38m and 2.40m. I’ve tried 2.36m and 2.37m about 40 times,” he said. “If I keep trying, I think I’ll get there.”

Source: Yonhap News Agency

(LEAD) (Asiad) High jumper Woo Sang-hyeok wins 2nd straight silver at Asiad

South Korea’s high jumper Woo Sang-hyeok won his second consecutive silver at the 19th Asian Games on Wednesday, falling to Olympic gold medalist Mutaz Barshim of Qatar.

He jumped 2.33 meters to finish second after the Qatari, who cleared 2.35m for his third Asiad title, in the men’s high jump final at Hangzhou Olympic Sports Centre Stadium in Hangzhou.

It is Woo’s second straight silver in the sport at Asian Games and South Korea’s first high jump gold since 2002, when Lee Jin-taek won the title.

Woo Sang-hyeok of South Korea (L) and Mutaz Barshim of Qatar greet each other after the men’s high jump final at Hangzhou Olympic Sports Centre Stadium in Hangzhou, China, during the 19th Asian Games on Oct. 4, 2023. (Yonhap)

Woo Sang-hyeok of South Korea (L) and Mutaz Barshim of Qatar greet each other after the men’s high jump final at Hangzhou Olympic Sports Centre Stadium in Hangzhou, China, during the 19th Asian Games on Oct. 4, 2023. (Yonhap)

The bronze medal went to Tomohiro Shinno of Japan, jumping 2.29m.

Another South Korean high jumper, Choi Jin-woo, finished 10th after failing to jump over 2.19m in three attempts.

Woo was slightly behind his outdoor personal best of 2.35m set in the Tokyo Olympics in 2021 and in the 2021 World Championships.

Woo Sang-hyeok of South Korea competes in the men’s high jump final at Hangzhou Olympic Sports Centre Stadium in Hangzhou, China, during the 19th Asian Games on Oct. 4, 2023. (Yonhap)

Woo Sang-hyeok of South Korea competes in the men’s high jump final at Hangzhou Olympic Sports Centre Stadium in Hangzhou, China, during the 19th Asian Games on Oct. 4, 2023. (Yonhap)

In the final, Woo cleared his first four heights of 2.15m, 2.19m and 2.23m on first tries.

He also needed one attempt to clear 2.26m, with a few jumpers knocked out early.

With Woo and four other jumpers remaining for 2.29m, Woo cleared the height with room to spare in his first attempt.

At 2.31m, the medalists left and competed for colors.

Woo jumped over it in his first attempt, and Barshim also did so, while Shinno failed to clear the bar and finished third.

The two dueled when the bar was raised to 2.33m, where both of them jumped on their first tries.

At 2.33m, Woo failed to clear it in his first attempt, while Barshim went over the bar in a single try.

For a final chance, Woo tried 2.37m, higher than his personal best, but could not get over it.

Barshim, who also attempted 2.37m but failed, won gold with 2.33m.

The Qatari, a three-time world champion and 2021 Olympic gold medalist, renewed the Asian Games record of 2.35m that he set at the 2014 Incheon Asiad.

Woo Sang-hyeok of South Korea reacts during the men’s high jump final at Hangzhou Olympic Sports Centre Stadium in Hangzhou, China, during the 19th Asian Games on Oct. 4, 2023. (Yonhap)

Woo Sang-hyeok of South Korea reacts during the men’s high jump final at Hangzhou Olympic Sports Centre Stadium in Hangzhou, China, during the 19th Asian Games on Oct. 4, 2023. (Yonhap)

Woo has been writing history in Korean athletics since finishing fourth at the Tokyo Olympics, the best performance by any Korean track and field athlete.

He became the first South Korean to win the indoor championship crown in 2022 and grab the silver medal at the World Athletics Championships the same year.

He was also the first Korean standing on the top of the podium at this year’s Diamond League Final.

This season, however, Woo, 27, has been experiencing ups and downs due to some heel problems and a sinus infection.

He took silver medals in a couple of Diamond League meets in May and June, but finished a disappointing sixth at the world championships in August.

Source: Yonhap News Agency

(Asiad) S. Korea beat 10-man Uzbekistan in men’s football semis, reach brink of 3rd straight gold

South Korea defeated Uzbekistan 2-1 in the semifinals of the Asian Games men’s football tournament in China on Wednesday, moving to the brink of their third straight gold medal.

VfB Stuttgart attacker Jeong Woo-yeong scored both South Korean goals to take the sole possession of the tournament lead with seven, and the young Taegeuk Warriors overcame some rough play by Uzbekistan at Huanglong Sports Centre Stadium in Hangzhou.

Jeong Woo-yeong of South Korea celebrates after scoring against Uzbekistan during the teams’ semifinals match of the men’s football tournament at Huanglong Sports Centre Stadium in Hangzhou, China, on Oct. 4, 2023. (Yonhap)

Jeong Woo-yeong of South Korea celebrates after scoring against Uzbekistan during the teams’ semifinals match of the men’s football tournament at Huanglong Sports Centre Stadium in Hangzhou, China, on Oct. 4, 2023. (Yonhap)

South Korea will face Japan in the gold medal match Saturday, back at Huanglong.

South Korea scored their first goal just about five minutes into the contest. Paris Saint-Germain midfielder Lee Kang-in faked taking a shot off a free kick just outside the box and instead sent a pass down the right wing to Um Won-sang.

Um then sent a cross to Jeong Woo-yeong, who got behind the defense to poke the ball home into the gaping net.

South Korea have now scored the first goal in all six matches they’ve played so far.

Uzbekistan drew level on 26 minutes, as Jasurbek Jaloliddinov scored a free kick goal from outside the box. The Uzbek captain’s left-footed shot hit a South Korean body and changed direction on its way to the net, as goalkeeper Lee Gwang-yeon failed to get his timing right.

Lee Kang-in of South Korea (R) tries to dribble past Ruslanbek Jiyanov of Uzbekistan during the teams’ semifinals match of the men’s football tournament at Huanglong Sports Centre Stadium in Hangzhou, China, on Oct. 4, 2023. (Yonhap)

Lee Kang-in of South Korea (R) tries to dribble past Ruslanbek Jiyanov of Uzbekistan during the teams’ semifinals match of the men’s football tournament at Huanglong Sports Centre Stadium in Hangzhou, China, on Oct. 4, 2023. (Yonhap)

Jeong then picked up his second goal in the 38th minute, as the beneficiary of some sloppy play by Uzbekistan.

Paik Seung-ho’s head pass from the left side of the box floated toward the goalmouth, but neither of the two Uzbek defenders in the vicinity, Saidazamat Mirsaidov and Asadbek Rakhimzhonov, cleared the ball away. With the goalkeeper, Vladimir Nazarov, stuck in his position, Jeong snuck behind everyone and rolled the ball home to put South Korea up 2-1.

Um Won-sang of South Korea (L) and Ibrokhimkhalil Yuldoshev of Uzbekistan battle for the ball during the teams’ semifinals match of the men’s football tournament at Huanglong Sports Centre Stadium in Hangzhou, China, on Oct. 4, 2023. (Yonhap)

Um Won-sang of South Korea (L) and Ibrokhimkhalil Yuldoshev of Uzbekistan battle for the ball during the teams’ semifinals match of the men’s football tournament at Huanglong Sports Centre Stadium in Hangzhou, China, on Oct. 4, 2023. (Yonhap)

Jaloliddinov took another free kick from outside the box in the 54th minute, but Lee Gwang-yeon was up to the task this time.

Uzbekistan kept playing some physical football in the second half, and it cost them in the 74th minute, with Abdurauf Buriev picking up his second yellow card of the match on a hard tackle on Cho Young-wook.

South Korea couldn’t capitalize on the extra space against the undermanned opponent, as they hung on for the one-goal win.

Source: Yonhap News Agency