NOVARTIS (NVS) Company Report

Analyst Coverage

Research analysts who have asked questions during NOVARTIS earnings calls.

Florent Cespedes

Bernstein

6 questions for NVS

Also covers: NVO, SNY

James Quigley

Goldman Sachs

6 questions for NVS

Also covers: EVO, NVO, SNY +1 more

Peter Verdult

Citigroup Inc.

5 questions for NVS

Also covers: AZN, EVO, GMAB +4 more

Simon Baker

Redburn Atlantic

5 questions for NVS

Also covers: AUTL, AZN, BNTX +5 more

Matthew Weston

UBS Group AG

4 questions for NVS

Also covers: AZN, GSK, SNY

Rajesh Kumar

HSBC

4 questions for NVS

Also covers: AZN, BZLFY, LLY +2 more

Richard Vosser

JPMorgan Chase & Co.

4 questions for NVS

Also covers: ARGX, AZN, MOLN +2 more

Seamus Fernandez

Guggenheim Partners

4 questions for NVS

Also covers: AMLX, ARCT, ARQT +9 more

Thibault Boutherin

Morgan Stanley

4 questions for NVS

Also covers: ALVO, EVO, GRFS +2 more

Emmanuel Papadakis

Deutsche Bank

3 questions for NVS

Also covers: AZN, NVO, SNY

Graham Parry

Bank of America Corporation

3 questions for NVS

Also covers: GRFS, GSK, SNY

Kerry Holford

Berenberg

3 questions for NVS

Also covers: GSK, LLY, PFE

Emily Field

Barclays

2 questions for NVS

Also covers: AZN, GMAB, GSK +2 more

Michael Lyson

Jefferies Financial Group Inc.

2 questions for NVS

Richard Foster

JPMorgan Chase & Co.

2 questions for NVS

Also covers: NVO

Richard Parkes

BNP Paribas Exane

2 questions for NVS

Also covers: AZN, GSK, NVO

Sachin Dean

Bank of America Corporation

2 questions for NVS

Shirley Tan

Barclays PLC

2 questions for NVS

Steven Scala

TD Cowen

2 questions for NVS

Also covers: BMY

Steven Skiena

The Toronto-Dominion Bank

2 questions for NVS

Eric Le Berrigaud

Stifel

1 question for NVS

Also covers: AZN, SNY

Etzer Darout

BMO Capital Markets

1 question for NVS

Also covers: ARVN, CTMX, EXEL +5 more

Graham Parry

Bank of America

1 question for NVS

Harry Sephton

UBS

1 question for NVS

Also covers: NVO

Jo Walton

UBS

1 question for NVS

Also covers: AZN, GSK, NVO +1 more

Mark Purcell

Morgan Stanley

1 question for NVS

Also covers: AZN, GSK

Michael Leuchten

Jefferies

1 question for NVS

Also covers: AZN, GSK, NVO +1 more

Michael Nedelcovych

TD Cowen

1 question for NVS

Also covers: BHC, CHRS, MOLN +4 more

Naresh Chouhan

Intrinsic Health

1 question for NVS

Peter Welford

Jefferies

1 question for NVS

Also covers: AZN, GSK, NVO +1 more

Sachin Jain

Bank of America

1 question for NVS

Also covers: AZN, GMAB, GSK +2 more

Shirley Chen

Barclays

1 question for NVS

Also covers: SNY

Steve Scala

Cowen

1 question for NVS

Also covers: ABBV, AZN, BMY +6 more

Timothy Anderson

BofA Securities

1 question for NVS

Also covers: ABBV, AMGN, AZN +10 more

Latest news

Recent press releases and 8-K filings for NVS.

Novartis Presents Strong Financial Performance and Strategic Outlook at J.P. Morgan Healthcare Conference

NVS

Guidance Update

Share Buyback

M&A

Novartis reported strong financial performance, with 7% sales growth and 15% core operating income growth, achieving a 38.7% core operating margin by 2024 and generating $16 billion in free cash flow through Q3 2025.
The company provided long-term guidance, targeting high single-digit growth for 2024-2025, 5%-6% growth to 2030, and aiming for a 40% core operating margin by 2029.
Novartis is pursuing a pure-play medicines strategy, underpinned by a deep pipeline featuring 14 in-market blockbusters and 15 submission-enabling readouts in the next two years. Notable assets like Kisqali are now projected for $10 billion+ peak sales, and Scemblix for $4 billion+.
Capital allocation priorities include consistently growing dividends, completing a $10 billion share buyback this year, and strategic bolt-on acquisitions such as the proposed acquisition of Avidity.

6 days ago

Transcript

Novartis Updates on Financial Performance, Pipeline, and Capital Allocation

NVS

Guidance Update

M&A

Share Buyback

Novartis reported strong financial performance, achieving a 38.7% core operating margin in 2024 and generating $16 billion in free cash flow in both the last year and through Q3 2025.
The company provided long-term guidance of high single-digit growth for 2024-2025 and 5%-6% growth to 2030, with an expectation of 1%-2% short-term margin dilution in 2026 from the Avidity acquisition, aiming to return to a 40% core margin by 2029.
Novartis highlighted a robust pipeline with 14 in-market blockbusters and 15 submission-enabling readouts in the next two years , with key products like Kisqali now projected as a $10 billion plus medicine and Pluvicto with a $5 billion plus outlook.
Capital allocation priorities include investing in organic growth, value-creating bolt-ons, consistently growing dividends, and completing a $15 billion share buyback program, with $10 billion expected to be ongoing this year.

6 days ago

Transcript

Novartis Discusses Strong Performance, Long-Term Growth, and Pipeline at J.P. Morgan Conference

NVS

Guidance Update

M&A

Share Buyback

Novartis reported strong financial performance, with 7% sales and 15% core operating income growth, achieving a 38.7% core operating margin by 2024, and generated $16 billion in free cash flow last year and through Q3 2025.
The company projects 5%-6% growth to 2030, aiming for $60 billion-$80 billion in revenue by the mid-next decade, and anticipates returning to a 40% core operating margin by 2029 after a 1%-2% short-term dilution in 2026 from the Avidity acquisition.
Novartis is committed to capital allocation through value-creating bolt-ons, including the proposed acquisition of Avidity, consistently growing its dividend, and completing a $10 billion share buyback.
The pipeline features 14 in-market blockbusters and several drugs with multi-billion-dollar peak sales potential, including Kisqali ($10 billion+), Scemblix ($4 billion+), Itivisma, Remibrutinib, and Ianalumab, with Pelabresib expected to be filed in Europe in 2026.

6 days ago

Transcript

Novartis and SciNeuro Sign Alzheimer's Licensing Deal

NVS

M&A

New Projects/Investments

Novartis has entered a global licensing and collaboration agreement with China-based biotechnology company SciNeuro Pharmaceuticals.
Novartis gains exclusive worldwide rights to SciNeuro’s de novo amyloid-beta antibody program, which uses a proprietary blood-brain barrier shuttle to enhance brain delivery for Alzheimer's disease.
The agreement is valued at approximately $1.7 billion, including a $165 million upfront payment, research funding, up to $1.5 billion in development/regulatory/commercial milestones, and tiered royalties.
The collaboration aims to address the unmet need in Alzheimer’s disease, with completion anticipated in the first half of 2026.

7 days ago

Bloomberg

Novotech Appoints New CEO

NVS

CEO Change

Management Change

Board Change

Novotech has appointed Dr. Anand Tharmaratnam as its new CEO, effective January 1, 2026.
Dr. Tharmaratnam has served as a Novotech board member since 2021 and brings nearly three decades of experience in the international CRO sector.
The previous CEO, Dr. John Moller, stepped down at the end of 2025 after a nine-year tenure, and is expected to return to Novotech's Board of Directors in 2026.
This appointment follows Novotech's successful fundraising in March 2025, which attracted new investors GIC and Temasek, alongside continued support from TPG.

Jan 8, 2026, 12:01 AM

Press Release

Monte Rosa Therapeutics Announces Positive Interim Phase 1 Data for MRT-8102

NVS

New Projects/Investments

Monte Rosa Therapeutics reported positive interim data from its Phase 1 clinical study of MRT-8102, a NEK7-directed molecular glue degrader for inflammatory conditions.
In subjects with elevated cardiovascular disease (CVD) risk, MRT-8102 demonstrated an 85% reduction in C-reactive protein (CRP) levels after four weeks, with 94% of participants achieving CRP values below 2 mg/L.
The study observed a favorable safety profile with mild to moderate adverse events and no increased infection risk.
The company plans to initiate a Phase 2 ASCVD study in 2026 and anticipates results from the expanded GFORCE-1 study in H2 2026.

Jan 7, 2026, 12:00 PM

Press Release

Novartis breaks ground on flagship manufacturing hub in North Carolina

NVS

New Projects/Investments

Hiring

Novartis broke ground on a more than 700,000-square-foot flagship manufacturing hub in North Carolina, a crucial step towards producing all its key medicines for US patients domestically.
This project is expected to create 700 new jobs by 2030 and support over 3,000 indirect jobs across the Novartis US supply chain.
The hub, anticipated to open in 2027-2028, is part of Novartis's $23 billion investment in US-based infrastructure over the next five years.
This groundbreaking highlights a year of significant US expansion for Novartis in 2025, which also includes plans for a new $1.1 billion biomedical research hub in San Diego, CA.

Dec 12, 2025, 12:00 PM

Press Release

Novartis Collaborates with Relation Therapeutics for Allergic Disease Drug Targets

NVS

New Projects/Investments

Novartis AG has entered a strategic collaboration with UK-based Relation Therapeutics Ltd. to discover and develop novel drug targets for allergic and atopic diseases.
The collaboration involves a commitment of up to $1.7 billion, including an upfront payment of $55 million (equity investment and R&D funding), with additional preclinical, development, regulatory, and commercial milestones, plus tiered royalties.
Relation Therapeutics will leverage its AI-powered drug discovery platform, which integrates patient-derived multi-omic data and proprietary experimental systems, to uncover causal genes and refine target hypotheses.
Novartis will hold worldwide development and commercialization rights for any resulting therapeutic targets, utilizing its expertise in immuno-dermatology.

Dec 9, 2025, 6:35 AM

Bloomberg

Novartis Announces Swiss Job Cuts and Strategic Facility Investments

NVS

Layoffs

New Projects/Investments

Novartis plans to eliminate approximately 550 full-time positions at its Swiss Stein site by the end of 2027, as part of a restructuring effort to modernize the facility and focus on innovative manufacturing technologies.
Concurrently, the company is investing $80 million in its Schweizerhalle production facility to expand RNA treatments manufacturing, which is expected to create around 80 new jobs by the end of 2028.
These Swiss facility plans are separate from the previously announced $23 billion investment to expand U.S. manufacturing capabilities for biologics and gene therapy.

Nov 25, 2025, 8:27 AM

Barron's

Novartis receives FDA approval for Itvisma, a gene replacement therapy for SMA

NVS

Product Launch

New Projects/Investments

Novartis AG announced on November 24, 2025, that its gene replacement therapy, Itvisma® (onasemnogene abeparvovec-brve), received FDA approval.
Itvisma is the first and only gene replacement therapy approved for children two years and older, teens, and adults with spinal muscular atrophy (SMA).
The therapy is a one-time fixed dose designed to address the genetic root cause of SMA by replacing the SMN1 gene.
Itvisma is expected to be available in the US in December.