Generic and biosimilar medicines provider Sandoz, part of Swiss pharmaceutical company Novartis Pharma AG (SIX:NOVN) (NYSE:NVS), on Thursday revealed its plans to invest approximately USD90m to build a state-of-the-art Sandoz Biosimilar Technical Development Center in Ljubljana, Slovenia, set to be operational by 2026.

The new facility will play a crucial role in expanding Sandoz's technical development capabilities and will lead to the creation of approximately 200 full-time jobs in Slovenia.

This significant investment complements Sandoz's recent announcement of plans to invest at least USD400m in a new biologics manufacturing plant in Lendava, Slovenia, and expand its biosimilar development capabilities at its facility in Holzkirchen, Germany.

Biosimilars play a crucial role in the treatment and prevention of numerous debilitating and life-threatening conditions, including various types of cancer, psoriasis and arthritis. They drive competition and cost savings, helping to address the escalating cost pressures faced by global healthcare systems, Sandoz said.