Sandoz Q1

 

• Strong first quarter performance, with net sales [1] of USD 2.5 billion, up 6% in constant currencies (up 5% in USD)
• Biosimilar business growing 21% in constant currencies
• All regions contributing to growth
• Acquisition of CIMERLI® (ranibizumab-eqrn) completed in March 2024

GUIDANCE 2024
The company reiterates its full-year 2024 guidance, expecting net sales to grow mid-single digit in constant currencies versus prior year and core EBITDA margin around 20%.

FIRST QUARTER STRATEGIC MILESTONES
On January 31, we announced the launch of Tyruko® in Germany. Developed by Polpharma Biologics, Tyruko® is the first and only biosimilar to treat relapsing remitting multiple sclerosis. The availability of Tyruko® is a crucial milestone in improving access to effective and safe therapies for those in Europe that need them most.

On March 4, we announced the completion of the US biosimilar CIMERLI® acquisition from Coherus BioSciences, Inc, ahead of anticipated timelines. The acquisition builds on the leading Sandoz ophthalmic platform in the US and lays an even stronger foundation for future product launches.

On March 5, we announced that Remco Steenbergen, currently a Sandoz Board member, will become a member of the Executive Committee and take on the responsibility of Sandoz CFO as of July 1, 2024. Remco will succeed Colin Bond who will step down from his position as of June 30, 2024, and retire in January 2025 per Swiss employment practice. Colin will be available for transition as a senior advisor through the end of 2024.

On March 5, we also announced that the US Food and Drug Administration (FDA) approved Wyost® (denosumab-bbdz) and Jubbonti® (denosumab-bbdz), the first and only FDA-approved denosumab biosimilars, to treat all indications of the reference medicines including osteoporosis and cancer-related skeletal events.

KEY LINKS
Webcast – Live at 9am CET
Analyst Call Presentation
Analyst Consensus

https://www.biospace.com/article/releases/sandoz-reports-first-quarter-2024-sales/