- Sandoz reports Q1 2025 net sales of USD 2,480 million, marking a 3% growth in constant currencies.
- Biosimilars sales reached USD 671 million, an 11% increase, representing 27% of total sales.
- Full-year guidance confirmed with expected mid single-digit net sales growth and a core EBITDA margin of around 21%.
Sandoz (SDZNY, Financial) has announced its financial results for the first quarter of 2025, reporting net sales of USD 2,480 million, reflecting a 3% growth in constant currencies. This performance is in line with company expectations and marks the fourteenth consecutive quarter of top-line growth. The growth rate when adjusted for the impact of divestments and acquisitions stands at 5%.
The generics segment contributed USD 1,809 million, representing 73% of the total net sales, while the biosimilars segment saw a significant boost of 11%, amounting to USD 671 million. Biosimilars now account for 27% of Sandoz's overall sales, with strong performances from products such as Hyrimoz (adalimumab) and Pyzchiva (ustekinumab) supporting this growth.
Regional sales showed varied performance: Europe net sales grew by 7%, driven by strong biosimilar launches, while international sales declined by 2% due to the effect of the divested China business. North America witnessed a modest 1% increase in net sales, influenced by recent product withdrawals but adjusted to a 3% growth excluding these factors.
Looking ahead, Sandoz maintains its full-year guidance, anticipating a mid single-digit percentage increase in net sales and a core EBITDA margin of around 21%. The company's outlook includes the launch of several high-value biosimilars, including Wyost/Jubbonti (denosumab) in both Europe and the US, and Tyruko (natalizumab) in the US, subject to regulatory approval.
The company also addressed the impact of recent U.S. government tariffs, including a 20% tariff on China implemented on March 4, 2025, noting that these tariffs are factored into the full-year guidance.
