Sandoz raises forecasts for 2015 based on strong first half performance

Sandoz has outperformed previous forecasts for growth during the first half of 2015, according to the latest financial report from parent company Novartis.

For the first six months of the year, the company generated net sales of $4.5 billion (2.89 billion pounds). This was down by three percent year over year on a reported basis, but up by ten percent in constant currency terms.

Volume growth of 15 percentage points for the company more than offset five percentage points of price erosion, with growth achieved across all of the regions in which the Sandoz brand operates.

During the second quarter alone, the firm achieved a net sales total of $2.3 billion, up by 11 percent on Q2 2014 in constant currency terms. A key driver of this growth was the US launch of Glatopa, the first generic version of the multiple sclerosis drug Copaxone.

To reflect its first-half performance, Novartis has raised its full-year guidance for the Sandoz business and now expects the division to achieve high single-digit sales growth.

It was previously announced at an investor event last month that Sandoz will be refocusing its business on key geographies and portfolio areas in order to maintain its momentum, while streamlining its manufacturing footprint.