Switzerland-based Sandoz (SWX: SDZ) has published its financial statements for the first half of 2023, ahead of its scheduled separation from parent company Novartis (NYSE: NVS) on October 4 this year. The subsidiary reported USD 4.8 billion in sales for the period, marking an 8% year-on-year (YOY) expansion in constant currency terms.
Breakdown of Sales by Product Category
Within the total sales, generics contributed USD 3.7 billion, reflecting a 6% YOY increase, while biosimilar drugs accounted for USD 1.0 billion, with a more robust 15% YOY growth.
Geographical Sales Performance
Geographically, Sandoz experienced a 14% YOY growth in Europe, reaching USD 2.5 billion in the first half of the year. In contrast, North America saw a 3% decline, with sales amounting to USD 1.0 billion. The rest of the world demonstrated a 5% increase, contributing USD 1.2 billion to the total sales.
Upcoming Product Launches and Pipeline Updates
According to the financial statement, Sandoz’s upcoming product launches include biosimilar versions of Biogen’s (NASDAQ: BIIB) blockbuster Tysabri (natalizumab), Amgen’s (NASDAQ: AMGN) bone treatment Prolia/Xgeva (denosumab), and Bayer’s (ETR: BAYN) ophthalmology therapy Eylea/Wetlia (aflibercept). These drugs are in various stages of development and regulatory review, with Tysabri biosimilar currently approved, the Prolia/Xgeva biosimilar under review, and the Eylea/Wetlia biosimilar in Phase III of clinical trials.-Fineline Info & Tech
