Novartis provides updates to mid-term guidance, now sees 6% sales CAGR 2023-2028

Novartis (NVS) announced an upgrade to its mid-term guidance, in advance of its Meet Novartis Management event for investors and analysts in London. Previous guidance for +5% sales CAGR 2023-2028 was upgraded to +6%, driven by strong momentum of in-market growth drivers and upcoming launches, most of which have expected U.S. exclusivity in the 2030’s or beyond. Rolling forward its mid-term guidance with strong 2024 performance as the base year, Novartis now expects to grow sales at +5% CAGR 2024-2029. The company remains on track to deliver core operating income margin1 of 40%+ by 2027, benefiting from continued strong sales growth and productivity improvements. “Novartis has completed its transformation into a pure-play innovative medicines company, with deep expertise and capabilities across our core therapeutic areas and technology platforms. Our focus has allowed us to sharpen our commercial execution and increase our peak sales estimates for Cosentyx, Kisqali, Kesimpta, Pluvicto and Leqvio, and we have more than 15 submission-enabling readouts in the coming years to further bolster our growth profile,” said Vas Narasimhan, CEO of Novartis. “Longer term, we’ve identified more than 30 assets in the pipeline with significant potential to rejuvenate our portfolio and support mid-single-digit growth post 2029. Taken together, we remain confident in our focused strategy and ability to deliver sustainable value creation for shareholders.”