Prognosis
Sandoz Revenue Gains on Growth in More Complex Copycat Drugs
- Sales of biosimilars rise, making up a fifth of total revenue
- Sandoz maintains full-year forecasts for sales, profitability
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Sandoz Group AG, the Swiss maker of generic medicines, reported higher revenue in its first report as a listed company, led by growth in biosimilars, which are more complex copycat drugs.
Sales rose 6% on a constant-currency basis in the first nine months of 2023, the company said Tuesday. Sandoz reiterated its guidance for full-year growth in mid-single digits. Its adjusted Ebitda margin should be 18% to 19% this year, Sandoz said. The stock was little changed in morning trading in Zurich.