Novartis upgrades mid-term guidance; buys Kate Thera
Swiss pharma giant Novartis (NOVN: VX) today 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 US exclusivity in the 2030’s or beyond. Novartis’s shares barely moved following the meeting.
The company is targeting an equal split between sales coming from the USA and what it generates elsewhere. For the first nine months of the year, Novartis's US sales amounted to $15.14 billion, or 41% of the group's total.
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