Sandoz Group Ltd · SIX:SDZ
Sandoz — 9M 2026 Earnings Presentation
33 slides from Sandoz's earnings presentation, Oct 28, 2026
Slide 1: 9M 2026 sales update
Click to edit Master subtitle style Click to edit 9M 2026 Master title style sales update 28 October 2026
Slide 2: Disclaimer
Disclaimer This presentation contains forward -looking statements, which offer no guarantee with regard to future performance. These statements are made on the basis This presentation includes non -IFRS of management’s views and assumptions financial measures as defined by Sandoz. regarding future e
Slide 3: Agenda
Agenda Highlights and business update Richard Saynor, Chief Executive Officer Net -sales performance and 2026 guidance Remco Steenbergen, Chief Financial Officer Wrap -up Richard Saynor, Chief Executive Officer Q&A 3
Slide 4: Highlights and business update
Highlights and business update Richard Saynor Chief Executive Officer 4
Slide 5: Sandoz accelerates strategic execution through pipeline expansion, partnerships and in-house capabilities
Sandoz accelerates strategic execution through pipeline expansion, partnerships and strengthened in -house capabilities Pipeline Business Financials Collaboration with Henlius and Bio100 ambitions unveiled at Capital Q3 net -sales growth: 5% mAbxience expanding biosimilar Markets Day underlying grow
Slide 6: Underlying Q3 net-sales growth of 7%
Underlying Q3 net -sales growth of 7% 1 Strong biosimilars momentum continues Q3 2026 net -sales business mix Q3 2026 net -sales regional mix in USD in USD North Biosimilars America +17% +20% 25% 34% (excl. AI B2B +21%) 2.9 bn 2.9 bn +5% +5% 52% Europe 66% +1% Generics 23% (excl. AI stable Internati
Slide 7: Sandoz becomes global market leader in generics
Sandoz becomes global market leader in generics 1 More milestones in GLP -1 strategy reached Pipeline >300 total generics in pipeline Portfolio strategy Focused LoE coverage, centred First shipments to partner on oral solids and injectables in Brazil ~70% generic LoE coverage 2 Health Canada grants
Slide 8: Industry-leading biosimilars pipeline further expanded
Industry -leading biosimilars pipeline further expanded 401 assets Regulatory submission in EU of biosimilar pertuzumab Regulatory review / Clinical Technical yet to launch 6 development² 7 development² 14 Early development 9 Keytruda ® Darzalex ® Tremfya ® Herwenda ® (pembrolizumab IV) Vyvgart ® /H
Slide 9: Hyrimoz and Pyzchiva: market share performance
Hyrimoz: continued strong performance and expanding market share Pyzchiva: leading biosimilar in Europe 1 Hyrimoz ® (adalimumab) Pyzchiva ® (ustekinumab) Global biosimilar market share and participation² Global biosimilar market share and participation³ 60 80 50 23% 70 40 21% 22% 26% 20% 26% 25% 30
Slide 10: Tyruko and Omnitrope: market share performance
Tyruko: stable European position with further geographic expansion Omnitrope: strong global position Tyruko ® (natalizumab) Omnitrope ® (somatropin) European market share¹ Global market share² 17% 16% 17% 17% 35% 35% 37% 36% Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2025 Q4 2025 Q1 2026 Q2 2026 • Strong gl
Slide 11: Recent launches building momentum across markets
Recent launches building momentum across markets Wyost ® & Jubbonti ® Afqlir ® (denosumab) (aflibercept) Successful launch driving strong market shares Strong European -launch execution Jubbonti Wyost European biosimilar share 56% biosimilar share in US¹ 49% biosimilar share in US¹ 22 markets 73% in
Slide 12: Expanding biosimilar pipeline: accelerating access through partnerships
Expanding biosimilar pipeline: accelerating access through partnerships Henlius partnership Initial programmes: cetuximab, evolocumab and belimumab; option for recombinant human hyaluronidase Henlius : development and manufacturing Sandoz : global commercialisation 1 mAbxience partnership First haem
Slide 13: Bio100 ambition progresses: Lendava centre and Ljubljana facility
Bio100 ambition progresses: Sandoz opens advanced biosimilar -manufacturing centre in Lendava and invests in new drug -substance facility in Ljubljana Location : Lendava I Capacity : 120 kl large -scale fed -batch Location : Ljubljana I Capacity : 8 kl litres of additional biologic drug -substance c
Slide 14: Net-sales performance and 2026 guidance
Net-sales performance and 2026 guidance Remco Steenbergen Chief Financial Officer 14
Slide 15: 9M performance driven by strong underlying volume demand
9M performance driven by strong underlying volume demand Underlying 1 net-sales growth of 6% Net -sales growth in USD billions Biosimilars continue to drive growth, supported by successful recent launches +8% in USD +5% at CC 8.7 8.1 + 0.8 + 0.2 -0.4 Strong volume growth more than offset price headw
Slide 16: Net-sales performance by business
Net -sales performance by business Biosimilars main growth driver, underlying Q3 generics in line with long -term trend in USD billions +5% Strong performances partly impacted by 2.8 2.9 German -market dynamics, near -term Q3 0.9 1.0 Biosimilars biosimilar supply constraints, and 2026 portfolio rati
Slide 17: Net-sales performance by region
Net -sales performance by region Strong growth in North America; temporary headwinds in Europe and International +5% in USD billions North America led Q3 growth, driven 2.8 2.9 Europe by excellent biosimilar performance Q3 1.5 1.5 International 2026 Strong volume demand: short -term 0.7 0.7 North Am
Slide 18: Successful bond issuance reinforces strong balance sheet and financial flexibility
Successful bond issuance reinforces strong balance sheet and financial flexibility Maturity profile of long -term debt 1 in USD millions Successful issuance of 12 -year EUR 500 million bond 1,200 Extended average maturity of debt profile 800 Maintained attractive funding costs, with expected average
Slide 19: Full-year guidance
Full -year guidance Narrowed net -sales range; upgraded margin Net -sales growth Core -EBITDA margin % at constant currencies % of net sales 5 -6% 23.0 -23.5% Prior guidance: mid -to-high single -digit percentage Prior guidance: ~100 basis -point year-on-year increase (2025: 21.7%) Key assumption FX
Slide 20: Wrap-up
Wrap -up Richard Saynor Chief Executive Officer
Slide 21: Key messages from CMD
Key messages from CMD Bio100 to drive sustainable impact and growth Purpose Ambition Delivery Continued delivery >100 biosimilars in Drive sustainable of Purpose portfolio by 2040 value creation 2035 2035 2035 Significantly expand More than doubling >30% core -EBITDA patient impact net sales vs 2025
Slide 22: Coming up: Slovenia biosimilar-hub site visit
Coming up: Slovenia biosimilar -hub site visit Bringing Bio100 to life through vertical integration 9 -10 November 1 Ljubljana Biosimilar development centre From science and data to scalable development 2 Lendava Biosimilar drug -substance facility Building scale, supply resilience and true vertical
Slide 23: Questions
Questions Richard Saynor Remco Steenbergen Chief Executive Officer Chief Financial Officer
Slide 24: Appendix
SANDOZ Appendix
Slide 25: Global biosimilar pipeline
Global biosimilar pipeline Key near -term launches and biosimilars in regulatory review or yet to launch Own/targeted brand Originator net sales targeted In-house/partnered Current status LoE 1 (USD bn) 1 Herwenda ® Regulatory approval in EU EU: expired 2 Partnered trastuzumab Regulatory submission
Slide 26: Global biosimilar pipeline (cont'd): assets in clinical development
Global biosimilar pipeline (cont’d) Assets in clinical development Own/targeted brand Originator net sales targeted In-house/partnered Current status LoE 1 (USD bn) 1 Keytruda ® EU: 2031 29 In-house In clinical development pembrolizumab IV US: 2028 Opdivo ® EU: 2030 8 In-house In clinical developmen
Slide 27: Global biosimilar pipeline (cont'd): technical development
Global biosimilar pipeline (cont’d) Biosimilars in technical development Own/targeted brand Originator net sales targeted In-house/partnered LoE 1 (USD bn) 1 Darzalex ® EU: 2031 23 In-house daratumumab SC US: 2029 Enhertu ® EU: 2036 19 In-house trastuzumab deruxtecan US: 2033 Opdivo Qvantig ® EU: 20
Slide 28: Global biosimilar pipeline (cont'd): technical development
Global biosimilar pipeline (cont’d) Biosimilars in technical development Own/targeted brand Originator net sales targeted In-house/partnered LoE 1 (USD bn) 1 Keytruda Qlex ® EU: 2031 7 In-house pembrolizumab SC US: 2028 Entyvio ® EU: expired 7 Partnered vedolizumab US: expired Takhzyro ® EU: 2033 1
Slide 29: Global biosimilar pipeline (cont'd): early development
Global biosimilar pipeline (cont’d) Assets in early development Own/targeted brand Originator net sales targeted In-house/partnered LoE 1 (USD bn) 1 Vyvgart ®/ Vyvgart Hytrulo ® EU: 2037 17 In-house efgartigimod alfa US: 2036 Vabysmo ® EU: 2037 10 In-house faricimab US: 2036 Tezspire ® EU: 2033 5 In
Slide 30: Global biosimilar pipeline (cont'd): early development
Global biosimilar pipeline (cont’d) Assets in early development Own/targeted brand Originator net sales targeted In-house/partnered LoE 1 (USD bn) 1 Crysvita ® EU: 2033 2 In-house burosumab US: 2032 Winrevair ® EU: 2039 8 In-house sotatercept US: 2041 Saphnelo ® EU: 2034 2 In-house anifrolumab US: 2
Slide 31: Upcoming investor events
Upcoming investor events ZKB Sandoz Jefferies Kepler Cheuvreux Swiss Equity Analyst and investor Global Healthcare CEO/CFO Tour Conference site visit Conference Zurich Slovenia London Virtual 6 November 9 -10 November 18 November 24 November Sandoz JP Morgan Sandoz Deutsche Bank Corporate -governanc
Slide 32: Investor Relations contacts
Investor Relations contacts Craig Marks Tamara Hackl Silvia Siegfried Katie Fischer Head of IR Senior Director, IR Senior Director, IR Coordinator, IR +44 7818 942 383 +41 79 790 52 17 +41 79 795 90 61 +41 79 500 51 53 [email protected] 32
Slide 33: Pioneering access for patients
Pioneering access for patients