Sandoz Group Ltd · SIX:SDZ
Sandoz — Q1 2025 Earnings Presentation
28 slides from Sandoz's earnings presentation, Apr 30, 2025
Slide 1: Q1 2025 sales update
April 30, 2025 Q1 2025 sales update
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements, which offer no guarantee with regard to future performance. These statements are made on the basis of management’s views and assumptions regarding future events and business performance at the time the statements are made. They are su
Slide 3: Agenda
Agenda 1. Highlights & business update 2. Net-sales performance & guidance 3. Wrap-up
Slide 4: Highlights & business update
Richard Saynor Chief Executive Officer Highlights & business update
Slide 5: Growing track record of execution and performance
1 Growing track record of execution and performance Q1 net sales in line with our expectations Double-digit biosimilar sales growth; further launches this year Full-year impact of confirmed tariffs absorbed within guidance Full-year guidance confirmed 5
Slide 6: Continued momentum for biosimilars
1 Continued momentum for biosimilars Omnitrope® (somatropin) Hyrimoz® (adalimumab) Particularly strong Further progress in Europe; performance in International continues to be leading region biosimilar in US Tyruko® (natalizumab) Pyzchiva® (ustekinumab) Strong uptake in Europe, with Leading biosimil
Slide 7: Continued demand for Omnitrope - helping patients with growth-hormone-related disorders
1 Continued demand for Omnitrope® - helping patients with growth-hormone-related disorders Omnitrope® global market-share evolution1 • Overtook originator as market leader with 37% 40 global market share1 • International region 30 driving growth in 2025 • Sandoz supplying 20 growing demand 10 0 Sep-
Slide 8: Hyrimoz/adalimumab-adaz: good growth in Europe; US launch progressing well
1 Hyrimoz®/adalimumab-adaz: good growth in Europe; US launch progressing well Sandoz US adalimumab market-share evolution1 • Broadest payer coverage of biosimilars, with coverage by major PBMs • Continued uptake of Sandoz Hyrimoz® and 98% 96% 84% 81% 79% unbranded adalimumab- adaz • Increased biosim
Slide 9: Tyruko: good launch progress in Europe; anticipated launch in US before year end
1 Tyruko®: good launch progress in Europe; anticipated launch in US before year end1 Tyruko® European market-share evolution2 • Trusted partner in multiple sclerosis 20% • Further launches this 16% year across Europe and US 12% • Strong commercial 8% capabilities to increase access 4% 0% Nov-23 Jan-
Slide 10: Pyzchiva: leading ustekinumab biosimilar in Europe, launched in US in Q1
1 Pyzchiva®: leading ustekinumab biosimilar in Europe1, launched in US in Q1 Market-share evolution in Europe1 • Leveraging commercial infrastructure and 2% 8% 14% 22% 26% 30% expertise • Launched in 22 markets in Europe • US launch in Q1 2025; private-label launch 43% 42% 41% 36% 42% 39% expected i
Slide 11: Net-sales performance & guidance
Remco Steenbergen Chief Financial Officer Net-sales performance & guidance
Slide 12: Robust Q1 volume growth, with price erosion in line with expectations for full year
2 Robust Q1 volume growth, with price erosion in line with expectations for full year Net-sales growth In USD billion +3% in cc1, +5% in comparable growth2 -0.1 0.1 2.5 -3 pts -0.1 2.5 +6 pts -3 pts Q1 2024 Volume Price FX Q1 2025 12 1. Constant currencies 2. Growth adjusted for 2024 acquisition of
Slide 13: Q1 net sales driven by 11% growth in biosimilars
2 Q1 net sales driven by 11% growth in biosimilars In USD billion Business mix In USD billion Regional mix International Generics 0.6 1.8 24% 55% 27% 2.5bn 73% Europe 2.5bn +3% 1.4 +3% Biosimilars 21% North 0.7 America 0.5 13 All growth in constant currencies
Slide 14: Q1 net-sales growth driven by biosimilars and Europe
2 Q1 net-sales growth driven by biosimilars and Europe In USD billion By business In USD billion By region +3% +3% 2.5 2.5 2.5 2.5 0.6 0.7 +11% +7% 1.3 1.4 1.9 1.8 0.6 0.6 -2% stable 0.5 0.5 +1% Q1 2024 Q1 2025 Q1 2024 Q1 2025 Biosimilars Generics Europe International North America 14 All growth in
Slide 15: Strengthening balance sheet and liquidity to support future growth
2 Strengthening balance sheet and liquidity to support future growth in USD millions Maturity profile1 • New USD 2.0 bn multi- 1’000 currency revolving credit facility replacing initial and unutilised USD 1.25 bn facility 500 • Dual-tranche CHF 400 mn and single-tranche EUR 500 mn bonds issued; proc
Slide 16: US tariffs
2 US tariffs Confirmed tariff limited to Manufacturing footprint Limited anticipated indirect impact China consists of 15 sites, from CMOs including 11 in Europe and one in US Full-year impact of confirmed tariffs within guidance No exports from US 16 USMCA: United States-Mexico-Canada Agreement
Slide 17: Full-year 2025 guidance confirmed
2 Full-year 2025 guidance confirmed Net sales growth Mid-single digit % in constant currencies Core EBITDA margin Around 21% % of net sales Key assumption Price erosion of low to mid-single digit Net sales2 -3% pts Foreign exchange1: 2025 Core EBITDA margin2 No material impact 17 Note: FY 2025 g
Slide 18: Wrap-up
Richard Saynor Chief Executive Officer Wrap-up
Slide 19: Outlook
3 Outlook Commercial milestones Corporate calendar • Wyost® /Jubbonti®: launch in Europe in Q4 • Half-year results on August 7, 2025 2025; imminent launch in US • Q3 and nine-month net sales on October 30, • EnzeevuTM /Afqlir® launch in Europe in Q4 2025 2025 • Tyruko® launch in US by end of year, p
Slide 20: Clear priorities in 2025 to deliver operationally and financially
3 Clear priorities in 2025 to deliver operationally and financially Deliver for patients on launches and pipeline Maintain unrelenting focus on commercial execution Drive further growth in sales, margin and free cash flow 20
Slide 21: Q&A
Q&A SANDOZ
Slide 22: Appendix
Appendix SANDOZ
Slide 23: Global biosimilar pipeline (1/3)
Global biosimilar pipeline (1/3) Key near-term launches and assets in clinical development Originator net sales targeted Wholly Potential launch Own/targeted brand (USD bn)1 owned Current status dates1,2 EnzeevuTM/Afqlir® Regulatory approval in US US: TBD3 9 Yes aflibercept Regulatory approval in Eu
Slide 24: Global biosimilar pipeline (2/3)
Global biosimilar pipeline (2/3) Assets in regulatory review Targeted brand Originator net sales targeted Wholly owned Current status (USD bn)1 Herceptin® Regulatory submission in US trastuzumab 2 No Regulatory approval in Europe Avastin® Regulatory approval in US bevacizumab 2 No Regulatory approva
Slide 25: Global biosimilar pipeline (3/3)
Global biosimilar pipeline (3/3) Assets in technical development Originator net sales Targeted brand targeted (USD bn)1 Wholly owned Darzalex® – daratumumab SC 17 Yes Enhertu® – trastuzumab deruxtecan 15 Yes Tecentriq® – atezolizumab 5 Yes 10 additional assets in early Skyrizi® – risankizumab 20 Yes
Slide 26: Glossary
Glossary Abbreviation Definition FDA Food and Drug Administration IV Intravenous JCV John Cunningham virus LoE Loss of exclusivity PBMs Pharmacy benefit managers SC Subcutaneous 26
Slide 27: Investor Relations contacts
Investor Relations contacts Craig Marks Tamara Hackl Rupreet Sandhu Head of Investor Relations Senior Director Senior Director Investor Relations Investor Relations +44 7818 942 383 +41 79 790 52 17 +41 79 410 54 72 investor.relations@sandoz.com
Slide 28: Thank you
Thank you SANDOZ