Sandoz reports strong start to 2024 sale
Swiss generics and biosimilars drugmaker Sandoz (SIX: SDZ) today announced net sales for the first quarter 2024 of $2.5 billion, an increase of 6% in constant currencies compared to the same quarter of the prior year.
Generics sales remained in line with prior year levels. Net sales for the first quarter were $1.9 billion, up 1% in constant currencies, compared to the first quarter of 2023.
Net sales of biosimilars were $623 million, up 21% in constant currencies, compared to the first quarter of 2023. This strong double-digit biosimilar growth reflects the ongoing launch of Hyrimoz high-concentration formulation (adalimumab), referencing AbbVie’s (NYSE: ABBV) mega-blockbuster Humira, the acquisition of Cimerli (ranibizumab-eqrn), a Lucentis biosimilar, as well as continued strong demand for Sandoz’ first-ever biosimilar, Omnitrope (somatropin).
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