Novartis: raises targets for 2024

(CercleFinance.com) - Novartis has raised its annual targets for net sales growth to "mid-single-digit to low-single-digit", and for "double-digit to mid-single-digit" growth in core operating income.


The Swiss healthcare giant has reported core EPS of $1.80 and core operating income of $4.54bn for Q1 2024, up 23% and 22% respectively at constant exchange rates.

Its core operating margin rose to 38.4% on net sales of over $11.8bn, up 11% (again at constant exchange rates), driven by Entresto (+36%), Cosentyx (+25%), Kesimpta (+66%), Kisqali (+54%), Pluvicto (+47%) and Leqvio (+139%).

In addition, its Board of Directors will propose to the 2025 AGM the election of Giovanni Caforio, former CEO and Executive Chairman of Bristol-Myers Squibb, to succeed Joerg Reinhardt as Chairman of the Board.


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