‘Challenging’ Times For Sandoz As COVID Bites
Sales And Core Operating Profit See Double-Digit Declines Despite Biopharma Growth
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.
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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 enjoyed both top- and bottom-line growth in the second quarter, as the Novartis company rebounded from a challenging Q1 and explained how it would reach its financial targets in the longer term.
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.