Zurich (awp) – The pharmaceutical firm Sandoz, a subsidiary of Novartis, has acquired the British company Coalesce, a specialist in inhalation devices. The transaction amount was not sent.
The generics and biosimilars division of the Basel laboratory is targeting growth opportunities in the generic and respiratory medicine sector by acquiring Coalesce, a company specializing in the development of medical devices and drug delivery.
“These are areas of relatively high unmet medical need, largely due to their comparatively high technical complexity,” Sandoz Chief Executive Officer (CEO) Richard Saynor said in a statement Monday.
Respiratory diseases are among the leading causes of death and disability and impose a substantial financial burden. They would have an estimated cost of more than 380 billion dollars per year in the 28 member states of the European Union.
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