RBC cuts Sandoz to 'sector-perform' on limited near-term upside

Sandoz AG

23/03/2026 09:15

** RBC cuts Sandoz SDZ.S to "market-perform" from "outperform", saying it sees a limited near-term upside for the Swiss generic drugmaker's shares

** The broker expects 2026 sales to be H2-weighted, factoring in continued penicillin B2B headwinds to generics performance in H1

** It also projects slower biosimilar sales growth in 2027, at a high single-digit percentage at constant exchange rates, before returning to double-digit growth from 2029

** Out of 16 analysts that cover Sandoz, six rate the stock "strong buy" or "buy," ​eight "hold" and two​ "strong sell" or "sell" - LSEG data

(Reporting by Tristan Veyet)

((Tristan.veyet@thomsonreuters.com))