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‘Challenging’ Times For Sandoz As COVID Bites

Sales And Core Operating Profit See Double-Digit Declines Despite Biopharma Growth

 
• By Dave Wallace

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.

COVID coronavirus impact graph recovery
Sandoz expects its business to stabilize as pandemic pressures ease • Source: Alamy

Sandoz has experienced a tough start to 2021 as pandemic-related pressures combined to drive down sales and profit in what management described as a “challenging” first quarter.

While parent company Novartis offered a relatively limited breakdown of Sandoz’ performance as it published first-quarter results today, it did reveal that turnover for the generics and biosimilars unit had tumbled by 9% as reported and by 13% at constant currencies to $2.307bn

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