Sandoz becomes top performer in Swiss Market Index

Sandoz has overtaken ABB to become the top-performing stock in the Swiss Market Index (SMI). Since joining the index in mid-September, Sandoz shares have risen by more than 14 percent, with a year-to-date increase exceeding 39 percent, reaching an all-time high of 82.60 Swiss francs.

The company's growth is driven by its biosimilar division, which saw revenue increase by 19 percent to 2.9 billion US dollars. However, the company reported short-term supply shortages for biosimilars in Europe and globally due to high demand. While the biosimilar segment performed strongly, the generics division saw a 1 percent decline in revenue at constant exchange rates, impacted by falling prices for key penicillin active ingredients.

Sandoz has adjusted its 2026 outlook, narrowing its net sales growth guidance to 5-6 percent on a currency-adjusted basis, down from previous estimates of mid-to-high single digits. Despite this, the company raised its margin target. Total revenue for the first nine months reached 8.7 billion US dollars, an 8 percent increase compared to the previous year.