Switzerland-based Sandoz (SWX: SDZ) has reported its financial results for the first quarter of 2024, announcing sales of USD 2.5 billion, marking a 6% year-on-year (YOY) increase in constant currency terms. This growth was driven by contributions from all regions. Generics sales experienced a modest 1% YOY increase to USD 1.9 billion, affected by the discontinuation of apixaban in the Netherlands. In contrast, biosimilars sales surged 21% to USD 623 million, propelled by strong performances from the immunomodulator Hyrimoz (adalimumab), growth hormone Omnitrope (somatropin), and the recently acquired ophthalmology drug Cimerli (ranibizumab).
Geographically, European sales rose by 2% YOY to USD 1.3 billion in the first quarter, with significant contributions from Omnitrope and the multiple sclerosis (MS) treatment Tyruko (natalizumab). North American sales saw a more pronounced increase, jumping 6% to USD 524 million, largely due to Hyrimoz, Omnitrope, and Cimerli, which compensated for a decline in generics. The rest of the world reported robust growth of 12% to USD 642 million, with notable performances across both generics and biosimilars.- Flcube.com
