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Novartis expects to increase its annual sales by least 5% per year in the coming years, CEO Vas Narasimhan said in an interview on Saturday, with the pharmaceuticals giant having nothing to fear from the end of patent protection on some drugs.
On Tuesday, Novartis AG NVS reported third-quarter sales of $12.823 billion, up 9% (+10% on constant currency), beating the consensus of $12.76 billion.
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Since my previous article in May, shares of Novartis AG have gone on to outperform the S&P 500 index. The drugmaker's revenue and core EPS topped analysts' expectations in Q3. Novartis' debt load remains very manageable.
Vas Narasimhan, CEO at Novartis, discusses third-quarter results, and explains the strategy behind development of the company's most in-demand treatments.
Novartis reported a strong Q3 2024 with 9% YoY sales growth, largely driven by its top four drugs. Pluvicto and Leqvio saw significant growth but investor disappointment stemmed from a revenue adjustment affecting Pluvicto. Novartis raised its full-year guidance, projecting double-digit sales growth for the remainder of 2024.
Novartis AG (NYSE:NVS ) Q3 2024 Earnings Conference Call October 29, 2024 9:00 AM ET Company Participants Sloan Simpson - Head of Investor Relations Vas Narasimhan - Chief Executive Officer Harry Kirsch - Chief Financial Officer Conference Call Participants Richard Vosser - J.P. Morgan Emily Field - Barclays Capital Florent Cespedes - Bernstein Simon Baker - Redburn Atlantic Graham Parry - Bank of America Matthew Weston - UBS James Quigley - Goldman Sachs Peter Welford - Jefferies Etzer Darout - BMO Capital Markets Kerry Holford - Berenberg Seamus Fernandez - Guggenheim Securities Rajesh Kumar - HSBC Steve Scala - TD Cowen Emmanuel Papadakis - Deutsche Bank Operator Good morning and good afternoon, and welcome to the Novartis Q3 2024 Results Release Conference Call and Live Webcast.
NVS' third-quarter earnings and sales beat estimates. Based on the strong momentum of key drugs, the company raises its outlook for 2024.
Novartis CEO Vas Narasimhan talks to CNBC about the company's latest results and the potential impact of the U.S. election on the business.
While the top- and bottom-line numbers for Novartis (NVS) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Novartis (NVS) on Tuesday posted third-quarter results that beat analysts' estimates and raised its full-year outlook, buoyed by strong sales of drugs like breast-cancer treatment Kisqali.