Sandoz Reports Q1 Net Sales Growth Driven by Biosimilars Surge

Sandoz (SDZ.SW) has announced its financial results for the first quarter of 2026, reporting net sales of $2.76 billion. This marks an increase from the $2.48 billion recorded during the same period in the previous year, a performance the company described as being in line with its internal expectations. On a constant currency (CC) basis, overall net sales grew by 3%. When excluding the impact of adverse dynamics within the anti-infective B2B business, the growth rate increased to 5%. This divergence highlights specific headwinds in the B2B anti-infective sector that weighed on the broader top-line results. The company's portfolio showed mixed results across its primary segments. The biosimilars division emerged as a significant growth engine, with net sales increasing by 18% at constant currency. In contrast, the generics business experienced a decline, with net sales falling 3% at CC. However, underlying generics sales only decreased by 1% when the anti-infective B2B impact was removed. Looking ahead, Sandoz has reaffirmed its financial guidance for the full year 2026, signaling confidence in its current operational trajectory. The company is scheduled to publish its comprehensive half-year results on August 5, 2026. From a market perspective, these results underscore Sandoz's strategic pivot toward higher-margin biosimilars to mitigate the pricing pressures and volatility inherent in the traditional generics market.