山德士Sandoz 2025年综合年度报告「瑞士证券交易所」（英文版）（192页）.pdf

1、Integrated Annual Report 2025Pioneering access for patientsNOW REACHING OVER 1 BILLION PATIENTS ANNUALLYYEARS OF BIOSIMILARSYEARS OF ANTIBIOTICSYEARS OF HERITAGENOW REACHING OVER 1 BILLION PATIENTS ANNUALLYYEARS OF BIOSIMILARSYEARS OF ANTIBIOTICSYEARS OF HERITAGENOW REACHING OVER 1 BILLION PATIENTS

2、ANNUALLYYEARS OF BIOSIMILARSYEARS OF ANTIBIOTICSYEARS OF HERITAGENOW REACHING OVER 1 BILLION PATIENTS ANNUALLYYEARS OF BIOSIMILARSYEARS OF ANTIBIOTICSYEARS OF HERITAGEBusiness Report Page 11Financial Report Page 98Our anniversary year Page 08Table of contentsCorporate Governance Report50 Corporate G

3、overnance framework50 ESG governance51 Group structure and shareholders54 Board of Directors60 Executive CommitteeCompensation Report70 Shareholder letter from Urs Riedener,Chair of the Human Capital&ESGCommittee71 2025 Executive Committee and Board compensation at a glance72 Executive Committee com

4、pensation83 Board of Directors compensation87 Compensation governance92 Audit report for the Compensation ReportRisk Management Report94 Risk management95 RisksFinancial Report99 Financial highlights100 Performance overview106 Consolidated financial statements of the Group155 Audit report for the co

5、nsolidated financial statements of the Group157 Supplementary financial information164 Financial statements of Sandoz Group AGESG Disclosures175 ESG reporting standards and assurance177 ESG performance indicators182 Article 964b:Swiss Code of Obligations compliance index183 Task Force on Climate-rel

6、ated Financial Disclosures(TCFD)See our online version S OF ANTIBIOTICSYEARS OF HERITAGEYEARS OF BIOSIMILARSNOW REACHING OVER 1 BILLION PATIENTS ANNUALLYOverview02 Financial highlights02 Access and impact highlights03 At a glance06 Chairmans letter08 Looking forward to 2026:atriple-anniversary year0