Sandoz reports strong 2023 financial results

Swiss generics and biosimilars major Sandoz (SIX: SDZ) today announced strong financial results for the fourth quarter and full year ended December 31, 2023.

For the fourth quarter, net sales were $2.5 billion, up 10% in constant currencies (CC) compared to the same quarter of the prior year. For the full year, net sales were $9.6 billion, an increase of 7% in CC and core earnings before interest, tax, depreciation and amortization (EBITDA) margin of 18.1%.

“2023 was a year of many achievements for Sandoz, thanks to the passion and tireless efforts of our employees worldwide,” said Richard Saynor, chief executive of Sandoz, the recent spin-out from Swiss pharma giant Novartis (NOVN: VX).