Management Presentation: Biosimilar Pipeline and Margin Improvement Strategy
Attractive market fundamentals | Leadership and scale | Multiple growth drivers | Margin improvement Attractive financial outlook Compelling sustainability story
Multiple levers to drive margin expansion
Core EBITDA Margin
=
2023 2028 (illustrative), % of net sales
~150bps
~24 to 26%
~350bps
~100bps
~18 to 19%
~100bps
Strong volume growth
across regions and businesses,
price erosion in line with
historical averages
Growing share of higher
margin products, esp.
Biosimilars and complex Generics
Operational improvements
2023
Volume
Price
Product mix
Operational
improvements
Organizational
efficiency
2028
driven by four key levers
Network
design
ā
Focused vertical
integration
Operational
excellence
Note: For additional information regarding the core results, which are non-IFRS measures, see "Appendix" starting on slide 31
24
Management Presentation
Procurement
optimization
Leveraging organizational
efficiencies through a leaner
operating model
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