Biotech Values

[DewDiligence]

UPDATE-1 Sandoz launches first generic of Lovenox® Injection

(Adds comment by Craig Wheeler on branded Lovenox®)

- Sandoz is first company to receive US approval to market generic enoxaparin -

- US sales of Lovenox® were USD 2.4 billion in 2009 -

- Enoxaparin launch demonstrates Sandoz commitment to increasing access for patients to cost-saving treatment options -

Holzkirchen, April 1, 2010 - Sandoz today announced the introduction of enoxaparin injectable, a generic equivalent of Lovenox®, in the US. Lovenox is an anticoagulant treatment used to help prevent deep vein thrombosis (DVT) blood clots.

Sandoz is the first and only company to launch generic enoxaparin in the US, delivering on its strategy of being first-to-market with key products. With the introduction of enoxaparin, Sandoz is expanding patient access to cost-saving treatment options in the US.

"Enoxaparin is an important new product for Sandoz, further strengthening our diverse portfolio of affordable medicines in the key US market," said Jeff George, CEO of Sandoz.

"Sandoz is excited to be the first company to offer this new high-quality, treatment option to patients. Sandoz and our parent company Novartis are deeply committed to providing more cost saving treatment options for this community in the future."

Sandoz generic enoxaparin was developed in partnership with Momenta Pharmaceuticals.

“Branded Lovenox® is a sloppy, poorly made product,” said Craig Wheeler, CEO of Momenta Pharmaceuticals. “Based on our extensive characterization technology, we believe our generic is a higher quality product and is deserving of a steep price premium. It’s simply better than the branded product in every imaginable way.”

About Sandoz

Sandoz, a Division of the Novartis group, is a global leader in the field of generic pharmaceuticals, offering a wide array of high-quality, affordable products that are no longer protected by patents. Sandoz has a portfolio of about 1000 compounds and sells its products in more than 130 countries. Key product groups include antibiotics, treatments for central nervous system disorders, gastrointestinal medicines, cardiovascular treatments and hormone therapies. Sandoz develops, produces and markets these medicines along with pharmaceutical and biotechnological active substances and anti-infectives. In addition to strong organic growth in recent years, Sandoz has made a series of acquisitions including Lek (Slovenia), Sabex (Canada), Hexal (Germany) and Eon Labs (US). In 2009, Sandoz employed around 23,000 people worldwide and posted sales of USD 7.6 billion.