Biosimilars Boost Offsets Generics Slide For Sandoz
Sales Remain Steady In 2020 Despite Turbulence Of COVID-19
Despite the turbulence of 2020 and the pressures of the coronavirus pandemic, Sandoz has reported steady sales for the year, as biopharmaceuticals sales up by a fifth offset a slide in turnover from retail generics.
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After an extraordinary year that saw demand patterns and the supply chain upended by the COVID-19 pandemic, as well as a major merger that has transformed one of the global off-patent industry’s biggest players, the leaders of the pack in the Generics Bulletin Top 50 have once again seen significant changes in 2021.
Sandoz has kicked off what promises to be a busy second half of 2021 in terms of launches for the Novartis subsidiary, introducing the first US generic of the Feraheme feumoxytol injectable treatment for iron deficiency anemia.
Sandoz saw both its sales and core operating profit experience double-digit drops in what management described as a “challenging” first quarter of 2021. However, its performance is expected to stabilize in the back end of the year as pandemic-related pressures ease.