Switzerland-based Sandoz (SWX: SDZ) has published its financial statements for the third quarter of 2024, reporting sales of USD 2.6 billion, reflecting a 12% year-on-year (YOY) increase in constant currency terms. Chemical generics contributed USD 1.854 billion in sales, marking a 4% YOY increase, while biosimilars saw a significant surge of 37% YOY to RMB 741 million.
The company’s performance was propelled by the continued strong demand for adalimumab biosimilar Hyrimoz, Cimerli (ranibizumab), and Omnitrope (recombinant human growth hormone), along with the European market launches of Tyruko and Pyzchiva, which are biosimilars of natalizumab and ustekinumab, respectively.
Geographically, net sales in Europe for the third quarter reached USD 1.4 billion, up 12%, attributed to the uptake of recently launched products. In North America, net sales for the quarter were USD 598 million, showing an 18% increase. The international market net sales rose by 8% to USD 635 million, partly mitigated by the divestment of the Chinese business in the second quarter.- Flcube.com
