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Sandoz Raises 2026 Core-EBITDA Margin Outlook to 23.0–23.5%

By Drooid · Oct 28, 2026 · How we work

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Summary

Sandoz Group AG raised its 2026 core-EBITDA margin outlook to 23.0-23.5%, up from 22.7%.
The company cut its full-year 2026 net-sales forecast to 5-6% currency-adjusted growth, below prior mid-to-high single-digit outlook.
Q3 2026 net sales were $2.94 billion, missing the $3.01 billion analyst consensus.
Shares fell nearly 5% after the report, citing temporary market headwinds in Germany.

Summary

Sandoz opened a high-volume biosimilar drug-substance center in Slovenia on September 29, 2026.
The facility will support Sandoz’s biosimilar pipeline of 36 assets.
Sandoz had already marketed thirteen biosimilars in the first half of 2026.
Oddo BHF raised its price target to CHF 75.00 with a Neutral rating on October 20, 2026.
Sandoz’s market capitalization was CHF 35.7 billion on October 27, 2026.

History

After the EMA created a dedicated biosimilar pathway in 2003, Europe authorized its first follow-on biologics and, since 2006, has granted marketing authorisations for over 50 biosimilars, including the EU’s first monoclonal-antibody copy in 2013. Building on that framework, Sandoz opened a high-volume biosimilar drug-substance centre in Slovenia in 2026, expanding its pipeline under the same regulatory regime.

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After the EMA created a dedicated biosimilar pathway in 2003, Europe authorized its first follow-on biologics and, since 2006, has granted marketing authorisations for over 50 biosimilars, including the EU’s first monoclonal-antibody copy in 2013. Building on that framework, Sandoz opened a high-volume biosimilar drug-substance centre in Slovenia in 2026, expanding its pipeline under the same regulatory regime.

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