Sandoz to Acquire Sabex Holdings of Canada
By Biotechdaily staff writers
Posted on 07 Jul 2004
In a move that will establish a new presence in Canada, Sandoz (Vienna, Austria) has announced plans to acquire Sabex Holdings Ltd. (Boucherville, Canada). Terms were not disclosed.Posted on 07 Jul 2004
Sabex Holdings is a generics manufacturer with the leading position in generic injectables in Canada. The company had sales of nearly U.S.$90 million in fiscal 2003-2004. Sabex offers U.S. Food and Drug Administration (FDA) manufacturing status and a broad range of critical care and ophthalmic medicines as well.
The acquistion will allow Sandoz, a Norvartis company located in Vienna (Austria; www.sandoz.com), to continue its strategy based on strong organic growth and strategic acquisitions to access new geographic markets, therapeutic lines, formulations, and production capabilities. The company's 2003 sales were $2.9 billion.
"The acquisition of Sabex provides Sandox with a leadership position in injectable generics in Canada and a platform to build a generic injectables business globally, particularly in the rapidly growing U.S. market,” said Christian Seiwald, CEO of Sandoz.
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