Sandoz Insists Industry Has COVID-19 Responsibility
As CEO Richard Saynor Forecasts Future Of Healthcare
As one of the largest players in the industry, Sandoz has undertaken several key measures to aid in the fight against the novel coronavirus outbreak, including maintaining stable prices for key measures and donating millions of doses of potential treatment options like hydroxychloroquine. CEO Richard Saynor sets out his thoughts on the ongoing pandemic and the role of the generics industry.
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Coronavirus-induced stockpiling and advanced prescribing of medicines has resulted in generics companies across the world registering unprecedented growth during the first quarter of 2020. However, many companies predict sales will level off again in the next quarter and beyond. And as demand fluctuates following the COVID-19 outbreak, companies have started taking precautionary measures to avoid supply-chain disruptions.
While Teva has helped to mitigate a Canadian shortage of salbutamol inhalers, Accord has struck a deal with the UK government to supply hydroxychloroquine. Sandoz is bolstering its inventory to meet demand and Apotex is donating critical medicines, while MedPharm’s new testing model will screen drugs for therapeutic eﬀectiveness and Beximco is focusing on manufacturing hydroxychloroquine, favipiravir and ivermectin.
To meet expected demand in the weeks and months ahead, Novartis' Sandoz has committed to donate up to 130 million doses of generic hydroxychloroquine – a treatment for malaria currently under investigation as a therapy to aid in the COVID-19 pandemic – while Teva and Mylan have also made strides, as the generics industry continues to play its part in tackling the coronavirus outbreak.