Novartis: raises target for 2024 NP

(CercleFinance.com) - On the occasion of its half-yearly publication, Novartis announces that it is now targeting core operating income growth in the mid-to-high 20% range for 2024, instead of the low-to-mid single-digit range.


The Swiss group, which is also maintaining its annual sales growth forecast in the high single-digit to low double-digit range, justifies this increase by continued strong momentum from its main growth drivers.

The pharmaceutical company posted H1 core EPS of $3.77 and core operating income of $9.49bn, up 22% and 21% respectively at constant exchange rates (CER).

Net sales of $24.3bn were up 11% at constant exchange rates, driven by 15% volume growth, while generic competition and price erosion accounted for 2% each.


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