In a notable achievement, Sandoz Group has reported substantial sales growth in 2024, primarily fueled by the impressive performance of its biosimilars division for both the full year and the fourth quarter. For the year ending December 31, 2024, the Swiss pharmaceutical giant saw net sales soar to $10.36 billion, compared to $9.95 billion from the previous year.
This remarkable increase was largely attributed to a robust sales surge within the company's operations across Europe, North America, and international markets, all benefiting from double-digit growth in biosimilars during the year and an accelerating demand for generics in the latter half, underpinned by recent product launches.
"We delivered strong results in our first full year as an independent company. At the same time, we made excellent progress in transforming the business, providing sustainable platforms for future growth, while all three regions grew net sales," stated Richard Saynor, Chief Executive Officer of Sandoz.
Looking ahead, Sandoz anticipates a continued mid-single-digit growth in net sales for 2025, bolstered by a positive business outlook and the planned introduction of new biosimilars such as Pyzchiva, Tyruko, and Wyost/Jubbonti. Nonetheless, the company also predicts a normalization of price erosion, expecting it to stabilize in the low to mid-single-digit percentage range.
Moreover, Sandoz reaffirmed its mid-term guidance aiming for a mid-single-digit growth trajectory in net sales at constant currencies through 2028. "The company has set its FY 2025 guidance for mid-single-digit CER growth in net sales and a core EBITDA margin around 21%. This aligns with our previous expectations from December, albeit with a cautious outlook preceding several significant biosimilar launches planned for this year.
However, it is worth noting that this projection remains below the consensus figure for 2025, which anticipates net sales growth at +7% YoY, both reported and on a constant currency basis. This consensus also assumes a minor foreign exchange impact, in contrast to our guidance indicating a 4% FX headwind for the fiscal year," analysts at RBC Capital Markets commented.
As of late Wednesday morning, Sandoz shares were trading nearly 3% higher in Zurich, a positive reflection of the company's solid performance..