The Swiss drugmaker cited solid sales growth and productivity gains, even as recent clinical-trial setbacks hit its bottom line in the third quarter. Novartis reported a 5% rise in sales to $12.4B, driven by strong performances from its cardiovascular and oncology divisions. Despite a $1.2B write-down related to failed trials for its investigational drug, the company raised its full-year profit guidance, reflecting improved cost management and operational efficiency.
CEO Vasant Narasimhan emphasized the resilience of its core portfolio and ongoing pipeline progress. The company remains focused on key growth areas, including gene therapies and radiopharmaceuticals, while navigating a challenging regulatory and competitive landscape.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing