The chief executive of Switzerland-based Sandoz, one of the world’s largest generic drug manufacturers, called on the EU to do more to prevent the industry from being hollowed out by cheap Chinese imports, saying it was “ridiculous” that antibiotics cost less than chewing gum.
Richard Saynor said European antibiotics manufacturers were “giving up” in the face of dumping by Chinese groups backed by state subsidies, warning that without intervention Europe risked becoming dependent on overseas imports.
“I find it offensive that we sell a pack of antibiotics in the UK more cheaply than a pack of chewing gum. It’s ridiculous,” Saynor told the FT in an interview, noting how US efforts to cut drug prices underlined the need for a strong domestic manufacturing base.