Novartis Pharma lifts medium-term sales guidance

BASEL (dpa-AFX) – Novartis Pharma, a unit of Novartis AG (NVS) said on Thursday it has raised its medium-term sales guidance ahead of the company’s Meet Novartis Management event.

Novartis currently sees revenue growing at a CAGR of 6 percent for the period 2023-2028, up from its previous guidance of 5 percent growth, driven by strong momentum in the business.

Gross sales are expected to grow at a CAGR of 5 percent during 2024-2029.

The company said it has eight in-market bands with peak sales potential of more than $3 billion – $8 billion, and more than 15 short-term readouts that enable submissions.

“Longer term, we have identified more than 30 assets in the pipeline with significant potential to rejuvenate our portfolio and support mid-single-digit growth beyond 2029,” said Novartis CEO Vas Narasimhan.

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