Streetbeat News

SDZNY

Sandoz Group AG

Industry

Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology)

Open

44.92

Mkt cap

20B

Volume

3.3K

High

45.50

P/E Ratio

-2275.00

52-wk high

46.80

Low

44.91

Div yield

0.01

52-wk low

27.79

Sandoz reported a strong first quarter with sales reaching $2.492B, a 5% increase in USD and 6% in constant currencies compared to last year. The biosimilar business grew by 21% in constant currencies. Growth was seen across all regions. Additionally, the acquisition of CIMERLI (ranibizumab-eqrn) was completed in March 2024.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 7:11 am

Sandoz AG has settled its patent litigation with Amgen Inc over the bone disorder drug denosumab, allowing for the launch of biosimilars Jubbonti and Wyost by May 31, 2025. The settlement will not affect Sandoz's 2024 guidance, and these biosimilars have received FDA approval. Amgen's Prolia, a reference medicine for these biosimilars, received a serious warning from the FDA in January due to risks of low calcium levels in certain patients. AMGN shares dropped by 0.91% following the news.

Portfolio Pulse from Vandana Singh

April 30, 2024 | 3:55 pm

Sandoz and Amgen have settled all patent litigation concerning Sandoz's denosumab biosimilars in the US, paving the way for the launch of Jubbonti and Wyost on or before May 31, 2025. These are the first FDA-approved biosimilars interchangeable with Prolia and Xgeva, expected to enhance Sandoz's biosimilar portfolio and growth strategy.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 7:56 am

Sandoz, a division of Novartis, has received European Commission approval for Pyzchiva (ustekinumab), a biosimilar to the reference medicine, marking a significant step in strengthening its immunology portfolio. The approval is based on a comprehensive development program demonstrating Pyzchiva's similarity in safety, efficacy, and quality to the original medication. This approval highlights Sandoz's ongoing commitment to enhancing access to critical treatments in the field of immunology.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 6:45 am

Sandoz reported a decrease in its fiscal 2023 core EPS to $2.20 from $2.83 YoY, while sales increased to $9.65B from $9.07B YoY. The company experienced strong growth across all regions and in biosimilars, with a full-year net sales increase of 7% in constant currencies. However, the EBITDA margin fell to 9.5% due to legal settlements and other one-time costs.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 6:28 am

Beigene has initiated patent infringement lawsuits against Sandoz and MSN Pharmaceuticals, as disclosed in an 8-K filing.

Portfolio Pulse from Charles Gross

March 08, 2024 | 11:09 am

The FDA has approved JUBBONTI, a new drug developed by SANDOZ INC, a division of Novartis (NVS). This approval marks a significant milestone for SANDOZ INC and potentially enhances Novartis's product portfolio.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 3:26 pm

Sandoz, a global leader in generic and biosimilar medicines, has launched Tyruko (natalizumab), the first and only biosimilar for treating relapsing-remitting multiple sclerosis (RRMS) in Germany as of February 1. Tyruko, developed by Polpharma Biologics, is indicated as a single disease-modifying therapy in adults with highly active RRMS, mirroring the indication of the reference medicine Tysabri. Rebecca Guntern, President Europe of Sandoz, emphasized the importance of early treatment with DMTs for MS patients and the role of Tyruko in enhancing access to effective therapies in Europe.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:54 am

Coherus BioSciences Inc (NASDAQ:CHRS) is trading higher after announcing the sale of its Cimerli ophthalmology franchise to Sandoz Group AG for $170 million plus inventory costs. This move is part of Coherus' strategy to focus on its core oncology business, which includes the Udenyca franchise and Loqtorzi, a PD-1 inhibitor. The deal is expected to close in the first half of 2024, and the proceeds will be used to pay down debt and reduce overhead costs. CHRS shares rose 13.7% on the news.

Portfolio Pulse from Vandana Singh

January 22, 2024 | 2:41 pm

Coherus BioSciences, Inc. (NASDAQ:CHRS) has agreed to sell its ophthalmology franchise, including CIMERLI and its commercial infrastructure, to Sandoz for $170 million in cash, plus additional payment for product inventory. The deal encompasses the CIMERLI biologics license application, sales and reimbursement teams, product inventory, and commercial software.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 12:15 pm

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