NVS Stock Recent News

The headline numbers for Novartis (NVS) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Healthcare stocks to check out in the stock market right now.

Novartis' (NVS) second-quarter earnings and sales beat estimates. Based on strong momentum, the company raises its operating income outlook for 2024.

Swiss drugmaker Novartis raised its 2024 earnings guidance for the second time on Thursday, driven by a gain in prescriptions of drugs including heart failure treatment Entresto and Kesimpta for multiple sclerosis.

Ad hoc announcement pursuant to Art. 53 LR Q2 net sales grew +11% (cc 1 , +9% USD) with core operating income up +19% (cc, +17% USD) Sales growth driven by continued strong performance from Entresto (+28% cc), Kesimpta (+65% cc), Cosentyx (+22% cc), Kisqali (+50% cc), Leqvio (+134% cc) and Pluvicto (+44% cc) Core operating income margin 39.6%, +270 basis points (cc), mainly driven by higher net sales Q2 operating income grew +47% (cc, +43% USD) and net income up +49% (cc, +43% USD) Q2 core EPS grew +21% (cc, +17% USD) to USD 1.97 Q2 free cash flow 1 of USD 4.6 billion (+40% USD) driven by higher net cash flows from operating activities H1 sales up +11% (cc, +9% USD) and core operating income up +21% (cc, +16% USD) Q2 selected innovation milestones: Fabhalta (iptacopan) received EU, Japan and China approval for the treatment of PNH Lutathera approved by FDA for pediatric GEP-NET patients (≥12 years) Scemblix filing for 1L CML accepted by FDA; received Breakthrough Therapy designation

U.S. stock indices have reached new highs, driven by strong corporate earnings, especially in technology. Meanwhile, many non-U.S. stocks have lagged so far in 2024.

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Novartis AG will report second quarter results this week. The company should report another strong quarter, with growth led by key products such as Entresto, Kesimpta, Kisqali, Cosentyx, and Leqvio. I expect a modest revenue and EPS beat, with NVS maintaining the full-year guidance for both revenues and core operating income.

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