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Sandoz reported strong first quarter 2024 sales with net sales of USD 2.5 billion, up 6% in constant currencies. Biosimilar business grew by 21%, all regions contributed to growth. Acquisition of CIMERLI® completed in March 2024. Generics sales remained steady. Full-year net sales guidance of mid-single digits in constant currencies.
Sandoz Group AG shareholders approved all proposals by the Board of Directors at the Annual General Meeting. Gilbert Ghostine was re-elected as Chairman, with Mathai Mammen, Graeme Pitkethly, and Michael Rechsteiner joining as new Board members. A dividend of CHF 0.45 per share was approved. The AGM also re-elected auditors and the independent proxy.
Sandoz has reached an agreement with Amgen to resolve all patent litigation related to its US denosumab biosimilars, allowing for the launch of Jubbonti® and Wyost® on May 31, 2025, or earlier under certain conditions. These biosimilars are the first and only FDA-approved alternatives to Prolia® and Xgeva®. The settlement strengthens Sandoz's biosimilar portfolio and growth strategy.
