Ad hoc announcement pursuant to art. 53 SIX Swiss Exchange Listing Rules MEDIA RELEASE Strong first quarter performance, with net sales [1] of USD 2.5 billion, up 6% in constant currencies (up 5% in USD) Biosimilar business growing 21% in constant currencies  All regions contributing to growth Acquisition of CIMERLI® (ranibizumab-eqrn) completed in March 2024 Basel, May 7, 2024 – Sandoz (OTCQX:SDZNY), the global leader in generic and biosimilar medicines, today announced net sales for the first quarter 2024. Net sales were USD 2.5 billion, an increase of 6% in constant currencies compared to the same quarter of the prior year. Biosimilars saw another quarter of double-digit net sales growth, an increase of 21% in constant currencies. Generics sales remained in line with prior year levels. Richard Saynor, Chief Executive Officer of Sandoz, said: "We saw a strong start to the year as we report our 10th consecutive quarter of topline growth. The momentum in our business continues as demonstrated by double-digit growth in biosimilars and a positive contribution by all regions." Mr. Saynor continued: "Biosimilars are a key element of performance, driven by strong results in our existing portfolio, demand for our recently launched product Hyrimoz® (adalimumab-adaz) in the US and the recent acquisition of CIMERLI® (ranibizumab-eqrn), which closed in early March. Generics remained in line with the strong prior year sales. Looking forward, we are confident in our ability to continue to grow our top line and meet our full-year net sales guidance of mid-single digits in constant currencies." FIRST QUARTER NET SALES RESULTSNet sales for the first quarter were USD 2.5 billion, up 6% in constant currencies, compared to the first quarter of 2023. Volume contributed 10 percentage points of growth, partially offset by price erosion of 4 percentage points. Biosimilars were a key driver of growth in the quarter, while generics remained in line with the strong prior year sales. Net sales by business   Three months ended March 31   Change % USD millions unless indicated otherwise 2024 2023   USD cc* Generics 1869 1868   0 1 Biosimilars  623  516   21 21 Net sales to third parties 2492 2384   5 6 *Constant currencies Generics overviewNet sales for the first quarter were USD 1.9 billion, up 1% in constant currencies, compared to the first quarter of 2023. Solid volume demand was partly offset by the impact from the withdrawal of apixaban in the Netherlands following a court decision in August 2023, an exceptional cough and cold season in the first half of 2023 and the timing of new launches in the US. Biosimilars overviewNet sales for the first quarter were USD 623 million, up 21% in constant currencies, compared to the first quarter of 2023. This strong double-digit biosimilar growth reflects the ongoing launch of Hyrimoz® high-concentration formulation, the acquisition of CIMERLI® as well as continued strong demand for our first-ever biosimilar, Omnitrope®. Net sales by region   Three months ended March 31   Change % USD millions unless indicated otherwise 2024 2023   USD cc Europe 1326 1270   4 2 North America  524  496   6 6 International ...