‘Why do we value a Mars bar more than life-saving medicine?’ Sandoz CEO calls for level playing field with cheap Chinese antibiotics
Source: Fortune ·
The Swiss pharmaceutical giant operates one of the last penicillin plants in Europe—losing it would raise new security and sovereignty challenges, says CEO Richard Saynor.
From the source
Prior to Alexander Fleming’s accidental discovery of penicillin 100 years ago, almost half of all deaths were caused by infections. Fleming’s petri-dish experiments and the resulting development of modern antibiotics have added an average of 23 years to human life expectancy and are estimated to save millions of lives each year. Sandoz, the Swiss pharmaceuticals company, is one of the last producers of this vital medicine in Europe. Its €150 million ($168 million) factory in the Alpine town of Kundl, Austria, is the continent’s only fully integrated antibiotic manufacturing facility, capable of producing the active ingredients and turning it into medication ready for patients. However, Sandoz faces strong competition from China. Last year, 86% of EU imports of penicillins and their derivatives came from China, up from 44% in 2019, according to Eurostat. China is now the largest exporter of antibiotic ingredients in the world. Losing the ability to produce antibiotics in Europe raises…