On 9 August 2024, Sandoz announced its Q2 2024 sales and financial results for half year ended 30 June 2024, reporting net sales of USD 2.6 billion for Q2/24, an increase of 9% when compared to the same quarter in 2023. Net sales for biosimilars in the same period were USD 720 million, up 37% compared with Q2/23, with growth for the half-year of 29%.
Sandoz attributes its strong double-digit biosimilars growth in the first half of 2024 to: the uptake of Hyrimoz® (adalimumab) in the US; the acquisition of Cimerli®, biosimilar to Genentech’s Lucentis® (ranibizumab) announced in January 2024; the continued strong demand for its first-ever biosimilar, Omnitrope® (somatropin); and the European launch of Tyruko® (natalizumab), biosimilar to Biogen’s Tysabri®, in January 2024.
Sandoz has achieved a number of key milestones in the first half of 2024, including the approvals of ustekinumab biosimilar, Pyzchiva® (developed by Samsung Bioepis), in the US (1 July 2024) and Europe (22 April 2024) and denosumab biosimilars, Wyost® and Jubbonti®, in the US and Europe (5 March 2024). Sandoz reports the expected US launch date for Wyost®/Jubbonti® as Q2/25 and that for Pyzchiva® as Q1/25. Pyzchiva® was launched in Europe in July 2024.
Sandoz has increased its full year 2024 net sales guidance from mid-single digit growth to mid-to high single digit growth.