Sandoz Group AG published a transcript covering its FY 2025 results call, attended by CEO Richard Saynor and CFO Remco Steenbergen. Management highlighted “a strong year of strategic and financial progress,” with net sales of USD 11.1 billion and core EBITDA margin rising 1.6 percentage points to 21.7%. The company pointed to strong execution in biosimilars launches, including Wyost and Jubbonti (denosumab), Pyzchiva (ustekinumab) and Tyruko (natalizumab), alongside continued investment to build a European biosimilar hub in Slovenia and the acquisition of Just-Evotec Biologics EU SAS to strengthen vertical integration. “A strong year of strategic and financial progress, cementing our fundamentals,” the CEO said. The CFO reported “strong sales, with accelerated growth in core EBITDA, management free cash flow, core ROIC and core EPS,” including management free cash flow of USD 1.547 billion and core ROIC of 14.5%. Sandoz also proposed a dividend of CHF 0.80 per share, subject to shareholder approval at the April 9, 2026 AGM. Looking ahead, the company issued full-year 2026 guidance for mid- to high-single-digit net sales growth at constant currencies and around 100 basis points of core EBITDA margin expansion, noting “no material contribution from any potential launch of generic semaglutide expected in 2026.” The full transcript can be accessed through the link below.

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