Sandoz Group Ltd · SIX:SDZ
Sandoz — Q1 2026 Earnings Presentation
28 slides from Sandoz's earnings presentation, Apr 29, 2026
Slide 1: Q1 2026 sales update
29 April 2026 Q1 2026 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 and business update Richard Saynor, CEO 2. Net-sales performance and 2026 guidance Remco Steenbergen, CFO 3. Wrap-up Richard Saynor, CEO 4. Questions Richard Saynor, CEO | Remco Steenbergen, CFO 3
Slide 4: Highlights and business update
Richard Saynor Chief Executive Officer Highlights and business update
Slide 5: Q1 performance in line with Sandoz expectations
1 Q1 performance in line with Sandoz expectations Fundamentals of 2026 roadmap are strong Net sales Business 2026 guidance • Net sales +5%, excluding impact • Strong launch progress, • Net sales to grow at CC by a in anti-infective B2B business including Wyost & Jubbonti in mid-to-high single-digit
Slide 6: Net-sales performance driven by 18% biosimilars growth
1 Net-sales performance driven by 18% biosimilars growth Strong result in North America Q1 2026 net-sales business mix Q1 2026 net-sales regional mix In USD billions In USD billions Biosimilars North +18% America 21% 31% +12% 2.8 bn 2.8 bn +3% Europe +3% 57% +2% 69% 22% Generics International -3% -2
Slide 7: Generics: strong foundation for sustainable growth
1 Generics: strong foundation for sustainable growth Scale, launches and pipeline provide stability and cash generation >400 total assets in development, Pipeline targeting USD ~200 bn1 of originator sales Portfolio Focused LoE coverage, centred on strategy oral solids and injectables Rivaroxaban No
Slide 8: Hyrimoz: broadest payer coverage in US; Pyzchiva: leading biosimilar in Europe
1 Hyrimoz: broadest payer coverage in US Pyzchiva: leading biosimilar in Europe1 Hyrimoz global market share2 Pyzchiva global market share3 Sandoz market Biosimilars Sandoz market Biosimilars share (%) participation (%) share (%) participation (%) 30 70 50 50 24% 20% 21% 20% 21% 40 37% 36% 40 19% 19
Slide 9: Tyruko: encouraging progress; Omnitrope: consistent leading market share
1 Tyruko: encouraging progress and additional launches Omnitrope: consistent leading market share Tyruko European market share1 Omnitrope global market share2 Sandoz market Sandoz market share (%) share (%) 16% 17% 16% 17% 17% 35% 35% 35% 35% 35% 36% 35% 35% 15% 7% Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2
Slide 10: Wyost & Jubbonti and Afqlir
1 Wyost & Jubbonti and Afqlir Successful launches; strong contributions expected Wyost & Jubbonti Afqlir Successful US launches: Rollout across Europe underway: Jubbonti 62% biosimilar share1 and now in 19 markets - limited competition Wyost 50% biosimilar share1 to date Broad US provider access and
Slide 11: Industry-leading biosimilars pipeline
1 Industry-leading biosimilars pipeline Targeted development in key biologics and therapies 321 assets Sandoz brand Originator brand Assets in Assets Assets in technical Assets in early regulatory review / in clinical development2 development yet to launch development2 Herwenda® Keytruda® Darzalex®
Slide 12: Accelerating access: Sandoz expands biosimilar pipeline through Samsung Bioepis partnership
1 Accelerating access: Sandoz significantly expands biosimilar pipeline through Samsung Bioepis partnership Sandoz to commercialise Entyvio®1 biosimilar • Reinforces commitment to capturing a significant share of projected global biosimilar loss-of-exclusivity market opportunity Covering • Paves way
Slide 13: Net-sales performance and 2026 guidance
Remco Steenbergen Chief Financial Officer Net-sales performance and 2026 guidance
Slide 14: Q1 performance driven by strong biosimilars sales
2 Q1 performance driven by strong biosimilars sales Net-sales growth in USD billions +11% in USD +3% at CC Exceptional biosimilar 2.8 performances in North 2.5 0.2 0.2 America and International; -0.1 further double-digit biosimilar growth in Europe +7% -4% +8% Net sales impacted by reduced anti-infe
Slide 15: 18% net-sales growth in biosimilars driven by launches
2 18% net-sales growth in biosimilars driven by launches in USD billions +3% at CC Biosimilars 2.8 Strong volume expansion, with 2.5 0.7 0.9 Biosimilars exceptional biosimilar By Generics performances in North America and business 1.9 International 1.8 Continued uptake of recent Q1 2025 Q1 2026 laun
Slide 16: Strengthened balance sheet to support future growth
2 Strengthened balance sheet to support future growth Total financial debt incl. current portion by maturity1 in USD millions One-year maturity extension of USD 2.0 billion multi-currency revolving credit facility 1,000 Dual-tranche CHF 550 million issued 500 On track to prolonging years to maturity
Slide 17: Full-year guidance confirmed
2 Full-year guidance confirmed Net-sales growth Mid-to high-single-digit % at constant currencies Core EBITDA margin Expansion of around 100 basis points % of net sales Key assumption Price erosion of low-to mid-single digit percentage Foreign-exchange impacts: based on spot rates1 Net sales +4%
Slide 18: Wrap-up
Richard Saynor Chief Executive Officer Wrap-up
Slide 19: A strong underlying performance
3 A strong underlying performance Set for a strong year for patients and shareholders Performance driven by Flawless launch biosimilars and North execution across regions America Accelerating access: Fundamentals of 2026 Samsung Bioepis roadmap are strong partnership Full-year guidance Significant b
Slide 20: Questions
Questions Richard Saynor Remco Steenbergen Chief Executive Officer Chief Financial Officer
Slide 21: Appendix
YEARS OF YEARS OF BIOSIMILARS ANTIBIOTICS Appendix
Slide 22: Global biosimilars pipeline (1/4)
Global biosimilars pipeline (1/4) Key near-term launches and assets in regulatory review / yet to launch Own/targeted brand Originator net sales targeted In-house/partnered Current status LoE1 (USD bn)1 Herwenda® Regulatory approval in EU EU: expired 2 Partnered trastuzumab Regulatory submission in
Slide 23: Global biosimilars pipeline (2/4)
Global biosimilars pipeline (2/4) Assets in clinical development Own/targeted brand Originator net sales targeted In-house/partnered Current status LoE1 (USD bn)1 Keytruda® EU: 2031 31 In-house In clinical development2 pembrolizumab IV US: 2028 Opdivo® EU: 2030 10 In-house In clinical development2 n
Slide 24: Global biosimilars pipeline (3/4)
Global biosimilars pipeline (3/4) Assets in technical development Own/targeted brand Originator net sales targeted In-house/partnered LoE1 (USD bn)1 Darzalex® EU: 2031 17 In-house daratumumab SC US: 2029 Enhertu® EU: 2036 15 In-house trastuzumab deruxtecan US: 2033 Padcev® EU: 2036 7 In-house enfort
Slide 25: Global biosimilars pipeline (4/4)
Global biosimilars pipeline (4/4) Assets in early development Own/targeted brand Originator net sales targeted In-house/partnered LoE1 (USD bn)1 Keytruda Qlex® EU: 2031 8 In-house pembrolizumab SC US: 2028 Vyvgart®/Vyvgart Hytrulo® EU: 2037 12 In-house efgartigimod alfa IV / SC US: 2036 Ultomiris® E
Slide 26: Upcoming investor events
Upcoming investor events Kepler Cheuvreux Deutsche Bank Kepler Cheuvreux ZKB Swiss Seminar Access European Virtual CEO-CFO Tour Swiss Equity Champions Conference Conference Virtual Frankfurt Virtual Geneva 13 May 27 May 8 June 11 June J.P. Morgan Sandoz Morgan Stanley European Healthcare H1 2026 Glo
Slide 27: Investor Relations contacts
Investor Relations contacts Craig Marks Tamara Hackl Silvia Siegfried Katie Fischer Head of IR Senior Director, IR Senior Director, IR Coordinator, IR +44 7818 942 383 +41 79 790 52 17 +41 79 795 90 61 +41 79 500 51 53 investor.relations@sandoz.com 27
Slide 28: Thank you
Thank you eT WAT AG 2