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Sandoz Group AG operates in the pharmaceutical industry and is primarily focused on the development, production, and marketing of generic pharmaceuticals and biosimilars. The company offers a wide range of products including antibiotics, dermatology treatments, and respiratory medicines. Sandoz initially began as an independent company and has a notable history as part of the larger Novartis group, from which it separated to re-establish its standalone position. Headquartered in Basel, Switzerland, Sandoz has a significant global presence in various key markets. The company's strategic positioning is bolstered by its extensive portfolio of generic and biosimilar medicines, allowing it to compete effectively within the cost-sensitive segments of the pharmaceutical market.

Johnson & Johnson is the world's largest and most diverse healthcare firm. It has two divisions: innovative medicine and medtech. These now represent all of the company's sales following the divestment of the consumer business, Kenvue, in 2023. After restructurings in 2023-24, the drug division focuses on three main therapeutic areas: immunology, oncology, and neurology. Geographically, just over half of total revenue is generated in the United States.