Swiss generics and biosimilar maker Sandoz (SIX: SDZ) today announced strong results for the second quarter and half year ended June 30, 2024, but its shares lost as much as 3.3 percent to CHF 34.57 in early trading.
In the second quarter, net sales were $6 billion, up 9 percent from the same quarter last year at constant exchange rates. Generics sales rose 1 percent to 1,835 million Swiss francs, while biosimilar sales rose 37 percent to 720 dollars.
Sandoz noted that the strong double-digit growth in biosimilars reflected the acceptance of Hyrimoz (adalimumab) in the US, the acquisition of Cimerli (ranibizumab), continued strong demand for its first-ever biosimilar Omnitrope (somatropin) and the launch of Tyruko (natalizumab) in Europe.
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