Sandoz continues growth during third quarter of 2014

Sandoz has continued its recent growth during the third quarter of 2014, according to data from parent company Novartis' latest financial report.

The business achieved a net sales total of $2.4 billion (1.88 billion pounds) during the quarter, up by six percent year over year. The US delivered double-digit retail generics and biosimilars sales growth, with improved performances also seen in Europe and Asia.

Sandoz was able to strengthen its leadership in the biosimilars market and grow its operating income, while achieving milestones such as the US regulatory acceptance of its application for approval of biosimilar filgrastim.

This filing was made under the new biosimilar pathway created in the Biologics Price Competition and Innovation Act of 2009, making Sandoz is the first company to announce a biologic filing through this channel and earning it an award for biosimilars initiative of the year by Generics Bulletin.

For the first nine months of the year, the company's net sales total comes to $7.1 billion, with volume growth of 13 percentage points more than offsetting eight percentage points of price erosion.