Posted on 23/07/2009 in Pharmacy Supplier News Sandoz's "leverage effect" allows the firm to create more jobs for people outside the company, benefitting the wider economy, it has been suggested.
An economic report by Professor Ulrich Blum, president of the Halle Institute for Economic Research, states that the company's global headquarters in Holzkirchen is one of the major driving forces for economic growth in Bavaria and Germany.
Professor Blum said: "The study estimates that the 'leverage effect' of one job at Sandoz generates an additional 1.6 jobs outside the company in Bavaria, or 2.6 nationwide. Across Germany, that equates to approximately 3,300 additional jobs in absolute terms."
This news could be positive for the UK economy, given that Sandoz has a facility in Hampshire that could potentially benefit from any leveraging capabilities the company has.
In recent weeks, Sandoz announced that it is to acquire EBEWE Pharma in a move it said will improve access to injectable cancer drugs for patients around the world.Other news stories from 23/07/2009
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