Sales & Earnings
Henlius is advancing its nivolumab biosimilar HLX18 into Chinese trials, as it expands a global oncology pipeline. In 2025, the firm’s strong revenue growth was offset by rising R&D investment amid increasing contributions from overseas partnerships.
Alvotech is shifting toward dual-source manufacturing and operational execution as it addresses FDA setbacks, expands its biosimilar pipeline and drives growth through global launches, with US approvals representing key upside to its 2026 outlook.
As Stada awaits the imminent closure of a deal that will see it come under the ownership of CapVest, the firm has reported 2025 sales that grew by 6% to €4.3bn, boosted by a double-digit biosimilars increase that drove Specialty sales above €1bn for the first time.
As the Danish vaccine maker plots further M&A activity.
The Spanish company has set up shop in Shanghai to be closer to current and future dermatology partners.
Hikma has introduced the first US rival to Nucynta ER in the form of a tapentadol extended-release authorized generic. The launch comes after the firm reported annual sales that were up but profits that were down, with new CEO Said Darwazah promising to right the ship.
Previously known only as AMP-007, the generic Atrovent HFA inhaler is now set for a Q2 launch with six months of exclusivity.
Aspen Pharmacare is targeting early launches of generic semaglutide as patents begin to expire, aiming to be among the first entrants in Canada’s emerging market for GLP-1 rivals and using the approval as a springboard into emerging markets.
Hungarian pharma’s Q4 underlying profitability gain was boosted by strong CDMO activity, with steady-state profitability still targeted for 2027.
Kabi targets mid- to high-single-digit growth and a 16.5%-17% EBIT margin in 2026, raising its long-term ambition as it pivots toward biopharma and innovation – while warning margin gains hinge on volume ramp and operating leverage.
Viatris will cut up to 10% of its global workforce – around 3,000 jobs – as part of a three-year restructuring plan targeting $650m in gross savings, with $250m set for reinvestment to boost growth and innovation, yielding roughly $400m in net savings by 2029.
A deep dive into sales expectations for individual pharma products reveals incretin agonists, immunology biologics and new formulations of established blockbusters dominating growth forecasts this year, with Merck & Co., Lilly, AbbVie and Bristol Myers Squibb particularly well positioned in 2026.