(CercleFinance.com) – Sandoz, the generic drugs subsidiary of Novartis, announced on Monday its intention to strengthen its antibiotic production facilities in Austria.
The company plans to invest 50 million euros in order to increase its production capacity in penicillins, the most frequently used antibiotics in the world.
The implementation of new manufacturing technology should enable the Kundl site in Austria to better respond to rising demand and thus offset the rise in its unit costs linked to the rise in energy prices.
Combined with the investments previously announced, in particular concerning its Palafolls plant, this project brings the total envelope devoted to the company’s European investments in antibiotics to more than 250 million euros.
Sandoz, a division of Novartis, specializes in the field of generic and biosimilar medicines, with a portfolio of medicines that cover the main therapeutic areas.
The company, which generated a turnover of 9.6 billion dollars in 2021, must soon become independent through an IPO scheduled for next year.
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