Sandoz announced robust financial results for the full year 2024. The company reported net sales of USD 10.4 billion, marking a 9% increase in constant currencies (7% in USD) compared to the previous year.
Key highlights of Sandoz's FY 2024 performance include:
- Biosimilars drove growth with a 30% increase in sales, reaching USD 2.85 billion.
- Generics sales grew modestly by 2% to USD 7.5 billion.
- Core EBITDA margin improved significantly to 20.1%, up 200 basis points from 2023.
- Operating income rose by 5% in constant currencies, although it decreased 18% in USD terms to USD 307 million.
Richard Saynor, CEO of Sandoz, attributed the strong performance to the company's successful transformation efforts and growth across all three regions. He highlighted the double-digit biosimilars sales growth in both the full year and fourth quarter, benefiting from recent launches and base-business momentum.
Looking ahead, Sandoz provided guidance for 2025, projecting mid-single digit net sales growth and a core EBITDA margin of around 21%1. The company's strong results in its first full year as an independent entity demonstrate its ability to leverage its position in the growing market for generic and biosimilar medicines.
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