Sandoz: an encouraging 2023 financial year

25th March 2024
-IAM, News

Olivier Aeschlimann, Senior Financial Analyst

Sandoz, the leader in generic and biosimilar medicines, published encouraging results for fiscal 2023. Sales totaled USD 9.6 billion, up 7% at constant exchange rate, with a core EBITDA margin of 18.1%. In 2023, the group launched “Hyrimoz” a biosimilar on the US market and expanded its pipeline thanks to a marketing agreement with Samsung. Furthermore, Sandoz has strengthened its balance sheet and ends the year 2023 with a cash position of more than USD 1.1 billion, thanks to two bonds issues. The board of directors recommends the payment of a dividend of CHF 0.45 per share, which represents a payout of 24%. In the longer term, the group intends to increase payout between 30 to 40% of profits. For 2024, Sandoz expects its turnover to grow by around 5% with a core EBITDA margin around 20%.