Sandoz Stung By The US Again As Sales And Margins Fall In Q3
Sales Fall By 20% In US As Product Mix Impacts Core Operating Margin
As parent Novartis announced plans for a strategic review for its Sandoz business, the generics and biosimilars unit posted falling sales again for the third quarter of 2021, after championing stability in Q2. Sandoz is banking on biosimilars to return to growth.
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Sandoz has been able to hike its previously flat full-year annual guidance following an upward trajectory for the company, especially in Europe and the US. One analyst pondered whether this suggested the “emergence of a bottom in the US generics sector” during the second half of the year.
Sandoz CEO Richard Saynor has told Generics Bulletin that the firm’s focus and strategy remain “unchanged” in the wake of last week’s announcement by parent company Novartis that it was exploring its options for the generics and biosimilars business.
Teva faced questions about the current environment in the US for generics, following weakness in its numbers and in those of rival Sandoz during the third quarter. Management remains “very committed to the US generics segment,” after sales dropped by 7%.