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Ad-hoc announcement pursuant to art. 53 SIX Swiss Exchange Listing Rules
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MEDIA RELEASE
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- Q1 2025 net sales of USD 2,480 million
- up by 3% in constant currencies (cc); stable in USD
- up by 5%[1] at a comparable growth rate (CGR), when adjusted for impact of 2024 acquisition of US biosimilar Cimerli® (ranibizumab) and 2024 divestment of China business
- ten largest-selling medicines grew by combined 4% and represented 33% of net sales
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- Europe net sales grew by 7%[1]. International declined by 2%[1] and increased by 2% when adjusted for China divestment. Net sales in North America grew by 1%[1] and, adjusted for Cimerli acquisition, by 3%
- Anticipated biosimilar launches primarily weighted to second half of year. Launches include Wyost®/Jubbonti® (denosumab) in Europe and US, Tyruko® (natalizumab) in US[2] and Afqlir® (aflibercept) in Europe
- Favorable moves towards regulatory streamlining of biosimilar development reflected in decision to minimize pembrolizumab Phase III trial
- Full-year impact of US government’s confirmed recent tariffs within guidance
- Full-year 2025 guidance confirmed: mid single-digit net-sales growth[1] and core EBITDA margin of around 21%
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Basel, April 30, 2025 – Sandoz (SIX: SDZ / OTCQX: SDZNY), the global leader in generic and biosimilar medicines, today presents its net-sales update for the first quarter of 2025.
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Richard Saynor, Chief Executive Officer of Sandoz, commented: “With Q1 sales in line with our expectations, we have now delivered fourteen consecutive quarters of top-line growth. This reconfirms our growing track record of execution and performance, driven by commercial excellence and an expanding biosimilar pipeline and portfolio, underpinned by our generics base. I’m looking forward to additional growth in the second quarter and further progress this year as we launch more biosimilar medicines.
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“With our business continuing to grow, we are confident of delivering more affordable medicines for patients and savings for society, while producing sustainable growth in sales, profitability and cash generation. It is the powerful combination of delivery and pioneering access for patients that makes us proud to be part of the Sandoz growth journey.”
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FULL-YEAR 2025 GUIDANCE
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The Company expects further major biosimilar launches later this year, while price erosion is expected to return to normalised levels of a low to mid-single-digit percentage. Sandoz anticipates core EBITDA-margin expansion to reflect the mix of sales, simplification of the external network and the ongoing transformation program. As a result, the Company continues to expect:
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- FY 2025 net sales to grow by a mid single-digit percentage[3]
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- a core EBITDA margin in FY 2025 of around 21%
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This guidance excludes any impacts of unforeseen events or unconfirmed developments, such as significant further potential trade tariffs emanating from the US government.
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FIRST-QUARTER NET SALES
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Net sales for the first quarter amounted to USD 2,480 million, representing growth of 3%[3]. Volume contributed six percentage points of growth, partly offset by price erosion of three percentage points.
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