Pharmaceuticals Sandoz sets higher margin target after strong quarter
Generics specialist Sandoz achieved higher sales in the third quarter of 2025. Growth was driven primarily by the high-margin biosimilars business. The Group is raising its margin target in its annual outlook.
30.10.2025, 07:31
30.10.2025, 07:32
SDA
Sandoz generated sales of 2.8 billion US dollars between July and September. This was an increase of 9 percent compared to the previous year. At constant exchange rates, the increase was 6 percent. The volume growth of 8 percent was reduced by price cuts of 2 percent, as the company announced on Thursday.
Of the two divisions, the generics business contributed almost 2 billion dollars to total sales and thus grew by 3 percent at constant exchange rates.
The smaller biosimilar division increased its revenue by 13 percent to 862 million dollars. The division thus contributed more than a third of total sales for the first time.
Higher margin targets
Sandoz also recorded sales growth across both divisions and all regions in the first nine months of the year. At +5 percent, the Group is well on the way to achieving its own target: For the year as a whole, sales are expected to grow in the mid-single-digit percentage range.
Sandoz does not present profit figures for the odd-numbered quarters. Nevertheless, the company has raised its EBITDA margin target. Sandoz is now forecasting a margin of between 21 and 22 percent. Previously, the target was around 21 percent.
The increased forecast reflects the success of biosimilars in particular, according to CFO Remco Steenbergen in the press release.
