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The pharmaceutical sector mainstay posted its first-quarter results. It beat on both the top and bottom lines.
Novartis AG (ADR) (NYSE:NVS) has raised its full-year revenue and profit guidance following a strong first quarter driven by momentum in key products including psoriasis drug Cosentyx, relapsing Multiple Sclerosis medicine Kesimipta and high cholesterol drug Leqvio. The Swiss drugmaker expects its 2024 sales to grow in the high-single to low-double-digit percentage range, compared to its earlier expectation of a mid-single-digit increase.
Vas Narasimhan, Novartis CEO, joins 'Money Movers' to discuss what feeds the company's strong guidance, if pricing in the U.S. will involve some friction, and more.
American depositary receipts (ADRs) of Novartis (NVS) rose in intraday trading Tuesday as the Swiss-based pharmaceutical firm reported better-than-expected first-quarter results and boosted its guidance on strong demand for its top-selling drugs, Entresto and Cosentyx.
The headline numbers for Novartis (NVS) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Novartis (NVS) comfortably beats first-quarter earnings and sales estimates. The company ups its outlook for 2024 on strong growth across key brands.
Novartis CEO Vas Narasimhan said the company saw a very good performance across both established medicines and recent drug launches. "While there was a small contribution from generics getting pushed out, we're reiterating our confidence in our 5% plus sales growth guidance up to 2028 and our 40% plus margin guidance out to 2027," he told Bloomberg Television on Tuesday.
Novartis shares rallied on Tuesday as the Swiss drugmaker raised its outlook for the year after seeing strong demand for heart and psoriasis drugs.
Shares of Swiss drugmaker Novartis climbed 4.8% in early deals Tuesday after it raised its full-year guidance following better-than-expected first-quarter results.
Novartis lifted its full-year guidance after first-quarter profit and sales rose and beat consensus expectations, boosted by strong sales of key drugs.