Sandoz commits to keep prices stable for basket of essential COVID-19 medicines; Novartis responds to COVID-19 with broad range of initiatives
Feb 26, 2020
Sandoz, a global generics leader and the #1 provider of off-patent antibiotic medicines worldwide, is making a public commitment to ensure stable pricing for a basket of essential medicines the company markets, which may help to treat coronavirus patients, amid growing concerns about the potential impact of the coronavirus outbreak on global supply chains.
Richard Saynor, Sandoz CEO, says: “I am very concerned about reports that prices for basic medicines such as painkillers and antibiotics are rising substantially as a result of a tightening supply situation for active pharmaceutical ingredients out of China.
“While I continue to believe that we need a coordinated and long-term approach to address the complex and interconnected issues of pricing, supply and quality, I also strongly feel the generics industry has a particular responsibility right now to ensure that patients can get the medicines they need.
“That’s why, with immediate effect, and despite current uncertainties about how the supply situation will evolve, Sandoz is committing as an initial response to keep prices stable for certain essential medicines it markets commercially, which may help in the treatment of coronavirus cases, specifically antivirals to reduce the impact of coronavirus and antibiotics to combat pneumonia.”
Click here to read Richard’s latest LinkedIn post on the potential impact of the coronavirus outbreak, and how Sandoz and others are responding.