Bourdage Becomes COO As Sandoz Shuffles Management
Chief Business Officer Carol Lynch Departs As Hayling Becomes CSO
A management reshuffle at Sandoz has seen head of biopharmaceuticals Pierre Bourdage take on the role of chief operating officer among a number of changes, as parent company Novartis continues its strategic review of the generics and biosimilars unit.
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Sandoz has been able to hike its previously flat full-year annual guidance following an upward trajectory for the company, especially in Europe and the US. One analyst pondered whether this suggested the “emergence of a bottom in the US generics sector” during the second half of the year.
Sandoz has responded to recent rumors that parent company Novartis is favoring a spinoff of the generics and biosimilars business over a sale or retention, insisting that “all options remain open” as a strategic review of the unit continues.
Reporting Q4 and full-year earnings, Novartis told attendees to the company conference call that evaluating all options for its Sandoz business would take months yet, while making its position clear on Sandoz’ multi-billion-dollar biosimilars business.