| Q3 net sales grew +10% (cc1, +9% USD) with core operating income up +20% (cc, +17% USD) |
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- Sales growth is driven by a continued strong performance from Entresto (+26% cc), Cosentyx (+28% cc), Kisqali (+43% cc), Kesimpta (+28% cc), Pluvicto (+50% cc) and Leqvio (+119% cc)
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- Core operating income margin 40.1%, +340 basis points (cc), mainly driven by higher net sales
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- Q3 operating income grew +123% (cc, +106% USD); net income up +121% (cc, +111% USD)
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- Q3 core EPS grew +20% (cc, +18% USD) to USD 2.06
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- Q3 free cash flow1 of USD 6.0 billion (+18% USD) driven by higher net cash flows from operating activities
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- Strong nine months performance with sales up +11% (cc, +9% USD) and core operating income up +20% (cc, +17% USD)
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- Q3 selected innovation milestones:
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- Kisqali FDA approval and positive CHMP opinion for HR+/HER2- stage II and III eBC
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- Fabhalta FDA accelerated approval for IgAN
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- Pluvicto FDA filing for pre-taxane mCRPC
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- Full-year 2024 guidance raised2
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- Net sales are expected to grow low double-digit (from high single to low double-digit)
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- Core operating income expected to grow high teens (from mid to high teens)
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| Commenting on Q3 2024 results, Vas Narasimhan, CEO of Novartis, said:
“Novartis delivered another quarter of strong operational performance in Q3, with sales up 10% and core operating income up 20%. All key growth drivers contributed to the momentum. We achieved important indications expansions for Kisqali in early breast cancer and Fabhalta in IgA nephropathy, and we completed our PSMAfore filing for Pluvicto in the US. With the momentum in our business and pipeline, we were able to once again upgrade our full-year guidance and remain highly confident in our mid-term outlook.” |
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- Constant currencies (cc), core results and free cash flow are non-IFRS measures. An explanation of non-IFRS measures can be found on page 46 of the Interim Financial Report. Unless otherwise noted, all growth rates in this Release refer to the same period in the prior year. 2. Please see detailed guidance assumptions on page 7. 3. As defined on page 35 of the Interim Financial Report, Continuing operations include the retained business activities of Novartis, comprising the innovative medicines business and the continuing corporate activities and Discontinued operations including operational results from the Sandoz business.
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| Strategy |
| Our focus |
| In 2023, Novartis completed its transformation into a “pure-play” innovative medicines business. We have a clear focus on four core therapeutic areas (cardiovascular-renal-metabolic, immunology, neuroscience and oncology), with multiple significant in-market and pipeline assets in each of these areas, that address high disease burden and have substantial growth potential. In addition to two established technology platforms (chemistry and biotherapeutics), three emerging platforms (gene & cell therapy, radioligand therapy and xRNA) are being prioritized for continued investment into new R&D capabilities and manufacturing scale. Geographically, we are focused on growing in our priority geographies – the US, China, Germany and Japan. |
| Our priorities |
- Accelerate growth: Renewed attention to deliver high-value medicines (NMEs) and focus on launch excellence, with a rich pipeline across our core therapeutic areas.
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- Deliver returns: Continuing to embed operational excellence and deliver improved financials. Novartis remains disciplined and shareholder-focused in our approach to capital allocation, with substantial cash generation and a strong capital structure supporting continued flexibility.
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- Strengthening foundations: Unleashing the power of our people, scaling data science and technology and continuing to build trust with society.
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| For the full document click the link below: |
| Novartis |
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