Sandoz reports core EPS for 2023 down 22% to $2.20 and a core EBITDA margin down 3.2 points to 18.1%, on revenues of $9.65 billion, up 7% at constant exchange rates (+6% on a reported basis).

Volume contributed 10 points to growth, partially offset by price erosion of three points. Growth was driven by strong demand, product launches and the ongoing performance of Omnitrope and Hyrimoz.

For 2024, the Swiss manufacturer of generics and biosimilars is targeting revenue growth 'in the mid-single-digit range at constant exchange rates' and a core EBITDA margin of around 20%.

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