Sandoz reported FY 2025 net sales of USD 11.1 billion, up 7%, with generics sales of USD 7.8 billion (up 4%) and biosimilars sales of USD 3.3 billion (up 15%). Core EBITDA was USD 2.4 billion (up 16%), with a core EBITDA margin of 21.7% (FY 2024: 20.1%). Net income was USD 914 million, and diluted earnings per share were USD 2.09. Management free cash flow was USD 1.5 billion (up 39%), while free cash flow was USD 874 million. Net debt was USD 3.6 billion as of Dec. 31, 2025, and core return on invested capital was 14.5%. In Q4 2025, Sandoz posted net sales of USD 3.0 billion, up 12%, including generics sales of USD 2.1 billion (up 8%) and biosimilars sales of USD 934 million (up 21%). Business updates for 2025 included multiple biosimilar launches: Pyzchiva (ustekinumab) in the US (February) and its autoinjector in Europe (May); Wyost and Jubbonti (denosumab) in the US (June) and Europe (December); Tyruko (natalizumab) in the US (November); and Afqlir (aflibercept) in Europe (November). Sandoz also signed a global license agreement with EirGenix (November) to commercialize a proposed pertuzumab biosimilar, and completed the acquisition of Just-Evotec Biologics EU SAS (December), including a Toulouse site and a license to continuous-manufacturing technology. The company proposed a FY 2025 dividend of CHF 0.80 per share and guided for 2026 net sales growth at a mid to high single-digit percentage and core EBITDA-margin expansion of around 100 basis points, while noting no material contribution from any potential launch of generic semaglutide is expected in 2026.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Sandoz Group AG published the original content used to generate this news brief via EQS News, a service of EQS Group AG (Ref. ID: adhoc_2280972_en), on February 25, 2026, and is solely responsible for the information contained therein.