the swiss times
de_DE German
de_DE German en_GB English fr_FR French es_ES Spanish ar Arabic
the swiss times

Sandoz Q1 Strong Start To The Year With Biosimilars Growth

Sandoz Q1 Strong Start To The Year With Biosimilars Growth

Di, Mai 7th 2024

Sandoz, a Novartis spin-off, kicks off the year with a 5% revenue increase, driven by significant growth in its biosimilars division.

KEYSTONE/Georgios Kefalas

The former generics subsidiary of the pharmaceutical group Novartis has grown faster with its lucrative biosimilars than with “normal” generics.

Revenue between January and March climbed by 5% to 2.5 billion US dollars, as the Group announced on Tuesday. At constant exchange rates, the increase would have been 6%.

The generics business contributed 1.9 billion dollars to total sales and thus remained stable compared to the same period of the previous year.

Sandoz attributes this to factors including an exceptional cough and cold season in the first half of 2023 and the timing of new product launches in the US, which would have offset the solid volume growth.

In contrast, the smaller biosimilar division grew by 21% to 0.6 billion. This significantly stronger growth was due, among other things, to the ongoing market launch of the highly concentrated formulation of the biosimilar Hyrimoz (anti-inflammatory) and the acquisition of Cimerli.

The Basel-based company confirmed its previous target for the further course of business: net sales are expected to grow in the mid-single-digit range. The core EBITDA margin is expected to be around 20% in 2024. The future dividend payout is expected to be between 30 and 40 percent.

©Keystone/SDA

Verwandte Geschichten

In Kontakt bleiben

Erwähnenswert

Inquiry Commission: Over 60 Hearings Into Credit Suisse
Erwähnenswert
24 Mai 2024

Inquiry Commission: Over 60 Hearings Into Credit Suisse

Organic Farming Expansion in Swiss Agriculture
Erwähnenswert
14 Mai 2024

Organic Farming Expansion in Swiss Agriculture
the swiss times
Eine Produktion der UltraSwiss AG, 6340 Baar, Schweiz

Schnelle Links

Startseite Datenschutz GTC Kontakt Über uns
Copyright © 2024 UltraSwiss AG 2024 Alle Rechte vorbehalten