Princeton, New Jersey, June 3, 2014 - Sandoz today announced an agreement with Upsher-Smith to obtain exclusive US distribution rights for its branded potassium chloride line of products, Klor-Con®, and market them under the Sandoz name, enhancing its strategic relationship.
“This agreement expands and strengthens our current relationship with Upsher-Smith and helps us create a leading potassium chloride business,” said Peter Goldschmidt, President of Sandoz Inc. “With our extensive distribution system, we will be able to improve patient access to these products, while increasing efficiencies and effectiveness.”
Potassium chloride is used to prevent or to treat low levels of potassium in the blood (hypokalemia).
Currently, Sandoz distributes generic potassium chloride. This agreement broadens the Sandoz portfolio of potassium chloride to include branded potassium chloride. Sandoz will distribute the full line of Klor-Con® products.
Sandoz’s and Upsher-Smith’s agreement will be effective July 1, at which point Sandoz plans to begin marketing the full potassium chloride line of products to customers.
This press release contains expressed or implied forward-looking statements, including statements that can be identified by terminology such as “strategic,” “to obtain,” “will,” “plans,” or similar expressions. Such forward-looking statements reflect the current views of the Group regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results expressed or implied by such statements. These expectations could be affected by, among other things, risks and factors referred to in the Risk Factors section of Novartis AG's current Form 20-F on file with the US Securities and Exchange Commission. Novartis is providing the information in this press release as of this date and does not undertake any obligation to update it in the future.
Sandoz, the generic pharmaceuticals division of Novartis, is a global leader in the generic pharmaceutical sector. Sandoz employs over 26,500 employees and its products are available in more than 160 countries, offering a broad range of high-quality, affordable products that are no longer protected by patents. With USD 9.2 billion in sales in 2013, Sandoz has a portfolio of approximately 1,100 molecules, and holds the #1 position globally in biosimilars as well as in generic injectables, ophthalmics, dermatology and antibiotics, complemented by leading positions in the cardiovascular, metabolism, central nervous system, pain, gastrointestinal, respiratory, and hormonal therapeutic areas. Sandoz develops, produces, and markets these medicines, as well as active pharmaceutical and biotechnological substances. Nearly half of Sandoz's portfolio is in differentiated products, which are defined as products that are more difficult to scientifically develop and manufacture than standard generics.
In addition to strong organic growth since consolidating its generics businesses under the Sandoz brand name in 2003, Sandoz has benefitted from strong growth of its acquisitions, which include Lek (Slovenia), Sabex (Canada), Hexal (Germany), Eon Labs (US), EBEWE Pharma (Austria), Oriel Therapeutics (US), and Fougera Pharmaceuticals (US).