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NOVARTIS (NVS)

Novartis AG (NVS) is a global pharmaceutical company headquartered in Basel, Switzerland, focused on developing, manufacturing, and marketing innovative medicines. The company aims to improve and extend lives by addressing major disease burdens through cutting-edge research and development. Novartis offers a wide range of therapeutic products across multiple core areas, including cardiovascular, immunology, neuroscience, oncology, and established brands.

  1. Oncology - Develops and markets treatments for various cancers, including targeted therapies and radioligand therapies.

    • Key Products: Kisqali, Promacta/Revolade, Tafinlar + Mekinist, Jakavi, Pluvicto.
  2. Immunology - Provides therapies for autoimmune and inflammatory diseases.

    • Key Products: Cosentyx, Xolair, Ilaris.
  3. Cardiovascular, Renal, and Metabolic - Focuses on treatments for heart failure, kidney diseases, and metabolic disorders.

    • Key Products: Entresto, Leqvio.
  4. Established Brands - Offers older, widely-used pharmaceutical products across various therapeutic areas.

    • Key Products: Sandostatin Group, Lucentis, Exforge Group, Diovan Group.
  5. Neuroscience - Develops treatments for neurological conditions, including multiple sclerosis and spinal muscular atrophy.

    • Key Products: Kesimpta, Zolgensma.

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NamePositionExternal RolesShort Bio

Karen L. Hale

ExecutiveBoard

Chief Legal and Compliance Officer

Karen L. Hale is the Chief Legal and Compliance Officer of Novartis since April 2025 , previously serving as Chief Legal Officer from May 2021 to April 2025 and as a Board Member of Novartis Pharma AG since 2021.

Shreeram Aradhye

ExecutiveBoard

President, Development and Chief Medical Officer

Executive Vice President & Chief Development Officer, Axcella Health, US; Executive Vice President & Chief Medical Officer, Dicerna Pharmaceuticals, US

Shreeram Aradhye, M.D. is the President, Development and Chief Medical Officer at Novartis since May 16, 2022; he has held several senior leadership roles at Novartis and previously served as Executive Vice President & Chief Development Officer at Axcella Health and Executive Vice President & Chief Medical Officer at Dicerna Pharmaceuticals.

Steffen Lang

ExecutiveBoard

President, Operations

Board Member, Bachem Holding AG

Steffen Lang, Ph.D. is the President, Operations at Novartis since April 2022, and he previously served as the Global Head of Novartis Technical Operations from 2017 to April 2022.

Vasant Narasimhan

ExecutiveBoard

Chief Executive Officer

Member, National Academy of Medicine, US; Board Member, Pharmaceutical Research and Manufacturers of America (PhRMA), US; Committee Member, Biopharmaceutical CEOs Roundtable, International Federation of Pharmaceutical Manufacturers & Associations, Switzerland; Board of Fellows, Harvard Medical School

CEO of Novartis since February 2018, previously served as Global Head of Drug Development and Chief Medical Officer from 2016 to 2018 while joining the company in 2005.

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Victor Bulto

ExecutiveBoard

President, US

Board member of the Biotechnology Innovation Organization since 2021; Member of the advisory board of the Leonard D. Schaeffer Center for Health Policy & Economics since 2024

Victor Bulto is the President, US at Novartis since April 2022 and a member of the Executive Committee since May 2022. Previously, he led key business units at Novartis, including serving as President of Novartis Pharmaceuticals Corporation from 2019 to April 2022.

Aharon (Ronny) Gal

Executive

Chief Strategy & Growth Officer

Aharon (Ronny) Gal, Ph.D. has served as the Chief Strategy & Growth Officer at Novartis since July 2022. He has an extensive background in biopharmaceutical strategy, analytics, and consulting roles.

Fiona Marshall

Executive

President of Biomedical Research

Member of the Scientific Advisory Board of SciLifeLab

Fiona Marshall has served as President of Biomedical Research at Novartis since November 2022. She has extensive experience in neuroscience and biomedical research, previously holding senior roles at Merck & Co., Sosei Heptares, and Heptares Therapeutics.

Harry Kirsch

Executive

Chief Financial Officer (CFO) of Novartis

Harry Kirsch has been serving as the CFO of Novartis since 2013 and has held multiple key financial roles within the company, including positions in the Pharmaceuticals Division. He is scheduled to retire on March 15, 2026.

Klaus Moosmayer

Executive

Chief Ethics, Risk & Compliance Officer

Board Member of SwissHoldings; Member of the Executive Board, BIAC; Co-founder and Honorary Board Member, European Chief Compliance and Integrity Officers’ Forum

Klaus Moosmayer served as Chief Ethics, Risk & Compliance Officer at Novartis from 2018 until his departure in March 2025, playing a key role in developing and executing the company’s ethics, risk, and compliance systems while also serving on the Executive Committee.

Patrick Horber

Executive

President, International

Board Member of the European Federation of Pharmaceutical Industries and Associations

Patrick Horber, M.D. is the President, International at Novartis since December 1, 2023 and a member of the Executive Committee. He has previously held senior leadership roles at AbbVie and Roche.

Ana de Pro Gonzalo

Board

Independent Non-Executive Director

Member of the Supervisory Board and Chair of the Audit Committee, STMicroelectronics NV (since 2020); Board Member, Mobico Group PLC (since 2019)

Ana de Pro Gonzalo has been a Board Member and Independent Non-Executive Director at Novartis since March 4, 2022, leveraging her expertise in finance, capital markets, and technology. Previously, she held executive roles including CFO at Amadeus IT Group and other senior positions at multinational companies.

Bridgette Heller

Board

Independent Non-Executive Director

Board Member at Aramark, US; Board Member at Dexcom Inc., US; Board Member at Integral Ad Science Inc., US; Board Member at Newman's Own Inc., US; Board Member at Newman's Own Foundation, US; Board Member at Shirley Proctor Puller Foundation, US; Advisory Board Member, Kellogg School of Management at Northwestern University, US; Board Member, Northwestern University, US

Bridgette Heller has been the Independent Non-Executive Director at NVS since 2020 and serves on the Audit and Compliance, Compensation, and Governance, Sustainability and Nomination Committees. She has held senior leadership roles at companies such as Danone, Merck & Co., and Johnson & Johnson.

Charles L. Sawyers

Board

Independent Non-Executive Director

Chair of the Human Oncology and Pathogenesis Program at Memorial Sloan Kettering Cancer Center (2006–present) ; Professor of Medicine at Weill Cornell Graduate School of Medical Sciences (2008–present) ; Professor of Cell and Developmental Biology at Weill Cornell Graduate School of Medical Sciences (2011–present) ; Investigator at Howard Hughes Medical Institute (2008–present) ; Member of the National Academy of Medicine (current) ; Member of the National Academy of Sciences (current)

Charles L. Sawyers has served as an Independent Non-Executive Director at Novartis since 2013, and he is widely recognized for his pioneering contributions to cancer research, including the co-development of Gleevec/Glivec. His extensive career also includes leadership roles at top medical institutions, showcasing his expertise in oncology.

Daniel Hochstrasser

Board

Independent Non-Executive Director

Chair of the Board of Directors, Daniel Hochstrasser AG (since January 2023); Vice President, ICC Court of Arbitration (since 2021); Member, Ethics Court, Zurich Bar Association (since 2004); Board Member, Finland Arbitration Institute (since 2020)

Daniel Hochstrasser has been serving as an Independent Non-Executive Director on the Novartis Board of Directors since March 4, 2022, contributing his extensive dispute resolution and governance expertise. Previously, he held significant legal and leadership roles in his own firm and other organizations.

Elizabeth (Liz) Doherty

Board

Independent Non-Executive Director

Board Member and Chair of the Audit Committee at Corbion NV; Member of the Supervisory Board and Chair of the Audit Committee at Royal Philips NV; Member of the Advisory Committee at Freya Holdco S.à.r.l.

Elizabeth (Liz) Doherty has served as an Independent Non-Executive Director at Novartis since February 2016. Previously, she held senior finance roles at companies such as Unilever, Tesco, and Reckitt Benckiser.

Frans van Houten

Board

Board Member

Board Chair of Absci Corporation; Board Chair of Castor EDC; Board Member of Affidea Group; Board Chair of Synthesis Health Inc

Frans van Houten has been a Board Member at Novartis since 2017 and brings extensive leadership experience from roles such as CEO of Royal Philips NV and CEO of NXP Semiconductors.

Joerg Reinhardt

Board

Chair of the Board of Directors

Member of the Board, Swiss Re AG; Chair of the Board of Trustees, Institute of Molecular and Clinical Ophthalmology Basel (IOB); Chair of the Board of Trustees, Novartis Foundation

Joerg Reinhardt has served as Chair of the Board of Directors at Novartis since 2013. He previously held executive roles at Novartis including Chief Operating Officer (2008-2010) and Head of the Vaccines and Diagnostics Division (2006-2008).

John D. Young

Board

Board Member

Board Member and Chair of the Compensation Committee at Arvinas Inc.; Board Member at Johnson Controls International

John D. Young is a seasoned healthcare professional with over 35 years of industry experience, having held various leadership roles at Pfizer before joining Novartis. He has served as an Independent Non-Executive Director and Board Member at Novartis since March 7, 2023.

Nancy C. Andrews

Board

Independent Non-Executive Director

Board Member and Chair of the Science and Technology Committee at Charles River Laboratories International Inc.; Board Member at Maze Therapeutics Inc.; Home Secretary and Council Member at National Academy of Sciences

Nancy C. Andrews has served as an Independent Non-Executive Director at Novartis AG since 2015, participating on both the Risk Committee and the Science & Technology Committee. She also has extensive experience in medicine and academia, having held leadership roles such as Professor in Residence at Harvard Medical School and Executive Vice President and Chief Scientific Officer at Boston Children’s Hospital.

Patrice Bula

Board

Lead Independent Director

Vice Chair of the Board, Schindler AG (Since 2015); Chair of the Board, Froneri Lux Topco Sarl (Since 2021); Chair of the Board, European Pizza Group Topco Sarl (Since 2023); Member of the Board and Chair of the ESG Committee, New Tiger LLC (Since 2023)

Patrice Bula has been the Lead Independent Director at Novartis since March 4, 2022 and a board member since 2019. He brings extensive leadership experience from his previous executive roles at Nestlé, including serving as Executive Vice President and Head of Strategic Business Units from 2011 to 2021.

Simon Moroney

Board

Vice-Chair of the Board of Directors

Chair of the Board of Directors at Biotalys NV; Chair of the Remuneration and Nomination Committee at Biotalys NV

Simon Moroney serves as Vice-Chair of the Board of Directors at Novartis since March 4, 2022 and as an Independent Non-Executive Director since 2020. Previously, he co-founded and led MorphoSys AG as CEO from 1992 to 2019.

Ton Buechner

Board

Independent Non-Executive Director

Chair of the Board of Directors and the Strategy and Sustainability Committee, Burckhardt Compression AG; Chair of the Board of Directors and the Sustainability Committee, Swiss Prime Site AG; Member of the Advisory Committee to the Ministry of Economic Affairs and Climate Policy, Netherlands

Ton Buechner has served as an Independent Non-Executive Director at Novartis since February 2016, where he also chairs the Risk Committee and is a member of the Audit and Compliance Committee. Previously, he held executive leadership roles such as CEO at Sulzer AG and AkzoNobel NV, contributing significantly to corporate governance and ESG initiatives.

William T. Winters

Board

Independent Non-Executive Director

CEO of Standard Chartered PLC; Board Member, Standard Chartered Bank PLC

William T. Winters has served as a board member at NVS since 2013 as an Independent Non-Executive Director and sits on key committees including Compensation and Governance, Sustainability and Nomination.

  1. Given the ongoing IP litigation and the potential for earlier generic entry of Entresto in the U.S., can you detail your contingency plans to mitigate a faster-than-expected impact on revenue and how this might alter your full-year guidance?
  2. With Cosentyx showing a slowdown in China due to tighter healthcare spending and pricing policies, how will you adjust your strategy to maintain robust growth in that market, especially for NRDL-listed drugs?
  3. In light of current U.S. policy debates and your discussions with HHS, can you explain how your plan to pursue direct-to-patient pricing will improve net revenue without triggering adverse effects on your overall pricing architecture?
  4. As you advance pivotal studies for YTB and PSMA therapies concurrently, what risks do you foresee in resource allocation and clinical timelines, and how are you prioritizing these programs to maximize long-term value?
  5. With the new €10 billion share buyback program in place, how do you balance immediate shareholder returns with the need to allocate capital for strategic bolt-on acquisitions and long-term pipeline investments?

Research analysts who have asked questions during NOVARTIS earnings calls.

Florent Cespedes

Bernstein

4 questions for NVS

Also covers: SNY

James Quigley

Goldman Sachs

4 questions for NVS

Also covers: EVO, NVO, SNY +1 more

Richard Vosser

JPMorgan Chase & Co.

4 questions for NVS

Also covers: MOLN, NVO, SNY

Seamus Fernandez

Guggenheim Partners

4 questions for NVS

Also covers: AMLX, ARCT, ARQT +9 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

Peter Verdult

Citigroup Inc.

3 questions for NVS

Also covers: AZN, EVO, GMAB +4 more

Simon Baker

Redburn Atlantic

3 questions for NVS

Also covers: AUTL, AZN, BNTX +5 more

Emily Field

Barclays

2 questions for NVS

Also covers: AZN, GMAB, GSK +2 more

Matthew Weston

UBS Group AG

2 questions for NVS

Also covers: AZN, GSK, SNY

Rajesh Kumar

HSBC

2 questions for NVS

Also covers: AZN, BZLFY, LLY +2 more

Richard Parkes

BNP Paribas Exane

2 questions for NVS

Also covers: AZN, GSK, NVO

Thibault Boutherin

Morgan Stanley

2 questions for NVS

Also covers: EVO, GRFS, INDV +1 more

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

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

Notable M&A activity and strategic investments in the past 3 years.

CompanyYearDetails

Regulus Therapeutics Inc

2025

Novartis acquired Regulus Therapeutics for an upfront cash payment of $0.8 billion plus a contingent value right (CVR) that could bring the total deal value to $1.7 billion; the acquisition secured the key miRNA therapeutic asset, farabursen, for treating ADPKD.

Anthos Therapeutics, Inc

2025

Novartis acquired Anthos Therapeutics with an upfront cash payment of $0.9 billion and potential milestone payments of up to $2.1 billion to add the late-stage asset abelacimab—a selective monoclonal antibody targeting Factor XI—to its cardiometabolic and cardiovascular portfolio.

MorphoSys AG

2024

Novartis executed a public takeover offer at EUR 68 per share, paying approximately EUR 2.3–2.6 billion in cash to acquire MorphoSys AG, which brought oncology assets including pelabresib and tulmimetostat into its pipeline.

Mariana Oncology

2024

Novartis acquired Mariana Oncology for a total consideration of USD 1.3 billion—comprising USD 1.1 billion in cash and contingent payments—to gain a preclinical radioligand therapy portfolio aimed at addressing solid tumor indications.

Chinook Therapeutics, Inc

2023

Novartis acquired Chinook Therapeutics for a total of USD 3.3 billion (including contingent value rights) to enhance its renal pipeline with assets targeting IgA nephropathy, notably the late-stage candidates atrasentan and Zigakibart.

DTx Pharma Inc

2023

Novartis acquired DTx Pharma with an upfront cash consideration of USD 0.6 billion plus potential milestones up to USD 0.5 billion, obtaining access to its FALCON siRNA platform and preclinical neuroscience programs to advance treatments for neurological disorders.

Gyroscope Therapeutics Holdings plc

2022

Novartis completed the acquisition of Gyroscope Therapeutics for a total consideration of USD 1.0 billion—with an upfront cash payment of USD 0.8 billion plus contingent milestones—to bolster its ocular gene therapy capabilities for retinal indications.

Recent press releases and 8-K filings for NVS.

Novartis secures FDA approval for Rhapsido (remibrutinib)
·$NVS
Product Launch
  • Novartis announced US FDA approval for Rhapsido® (remibrutinib) as an oral treatment for adult patients with chronic spontaneous urticaria (CSU) who remain symptomatic despite H1 antihistamine treatment.
  • Rhapsido is the first FDA-approved Bruton's tyrosine kinase inhibitor (BTKi) for CSU, offering a unique approach by inhibiting the release of histamine and proinflammatory mediators.
  • Clinical trials demonstrated Rhapsido's superiority in reducing itch and hives compared to placebo, with well-controlled disease observed as fast as two weeks and a safety profile that requires no lab monitoring.
  • This twice-daily pill provides a convenient oral option, and Novartis has completed regulatory submissions for Rhapsido in other key markets, including the EU, Japan, and China.
5 days ago
Novartis Receives FDA Approval for Rhapsido (remibrutinib)
·$NVS
Product Launch
  • Novartis AG announced that Rhapsido® (remibrutinib) received US Food and Drug Administration (FDA) approval as an oral treatment for adult patients with chronic spontaneous urticaria (CSU) who remain symptomatic despite H1 antihistamine treatment.
  • Rhapsido is the first FDA-approved Bruton’s tyrosine kinase inhibitor (BTKi) for CSU, offering a unique approach by targeting BTK to inhibit the release of histamine and other proinflammatory mediators.
  • Clinical data demonstrated well-controlled disease as fast as two weeks and a safety profile that requires no lab monitoring.
  • Novartis has also completed regulatory submissions for Rhapsido for CSU in the European Union, Japan, and China, with priority review granted in China.
5 days ago
Novartis Addresses US Drug Pricing and Investment Plans
·$NVS
New Projects/Investments
Guidance Update
  • Novartis is actively working to reduce the price gap between U.S. drug prices and those in other industrialized countries, responding to pressure from President Donald Trump.
  • The company plans to invest $23 billion in the United States over five years to manufacture key products locally, aiming for significant operational shifts within the next two years.
  • Novartis is preparing for potential U.S. tariffs on European pharmaceuticals by shifting more production and packaging activities to the U.S..
  • Approximately half of Novartis' gross sales revenue in the US goes to intermediaries and purchasing organizations, which the company views as an opportunity to limit their influence to help reduce drug prices.
  • The consensus brokerage recommendation for Novartis is a 'Hold', with a projected one-year stock price target averaging $118.26.
Sep 20, 2025, 4:06 AM
Novartis Deepens Collaboration with Argo Biopharma
·$NVS
New Projects/Investments
  • Novartis and Argo Biopharma have entered into an additional strategic collaboration for multiple cardiovascular assets, marking their third transaction.
  • Under the terms, Argo Biopharma will receive an upfront payment of $160 million and is eligible for potential milestone and option payments of up to $5.2 billion, plus tiered royalties on commercial sales.
  • The agreement includes an option for Novartis to license ex-China rights to two discovery-stage next-generation molecules and a right of first negotiation to BW-00112 (ANGPTL3), currently in Phase II.
  • It also covers a license with reciprocal Profit & Loss options for an additional hepatic-delivered siRNA candidate in IND-enabling studies.
Sep 3, 2025, 11:00 AM
Novartis' Leqvio receives FDA label update
·$NVS
Product Launch
  • Novartis announced on July 31, 2025, that the US Food and Drug Administration (FDA) approved a label update for Leqvio® (inclisiran).
  • This update enables Leqvio's use as monotherapy along with diet and exercise to reduce low-density lipoprotein cholesterol (LDL-C) in adults with hypercholesterolemia.
  • The updated label removes the requirement for Leqvio to be used on top of or in combination with statin therapy, allowing for first-line use.
  • Leqvio is administered twice-yearly.
Jul 31, 2025, 8:30 PM
Novartis Cosentyx GCAptAIN Study Fails Primary Endpoint
·$NVS
New Projects/Investments
  • Novartis announced on July 3, 2025, that its Phase III GCAptAIN study evaluating Cosentyx (secukinumab) in adults with newly diagnosed or relapsing giant cell arteritis (GCA) did not meet its primary endpoint of sustained remission at Week 52.
  • The study compared Cosentyx, combined with a 26-week steroid taper, to placebo plus a 52-week steroid taper.
  • While secondary outcomes did not show statistical superiority, Cosentyx demonstrated numerically better outcomes compared to placebo for cumulative steroid dose and steroid-related toxicity.
  • The safety profile of Cosentyx in GCA patients was consistent with its known safety profile, which is supported by 10 years of real-world data across its approved indications.
  • Cosentyx is a fully human biologic approved for multiple immune-mediated inflammatory diseases and has been used to treat over 1.8 million patients worldwide.
Jul 3, 2025, 5:25 AM
Novartis: Paroxysmal Nocturnal Hemoglobinuria Market Outlook
·$NVS
New Projects/Investments
Product Launch
Revenue Acceleration/Inflection
  • The total Paroxysmal Nocturnal Hemoglobinuria (PNH) market in the 7MM was valued at USD 1.3 billion in 2024 and is projected for robust growth through 2034.
  • The United States accounts for the largest share of the PNH market, representing 85% of the total market size in 2024.
  • Market expansion is primarily driven by advancements in complement inhibitor therapies, increasing disease awareness, and the expanding adoption of targeted treatments.
  • Novartis is a prominent company in the PNH market, having developed FABHALTA (iptacopan), a recently approved oral Factor B inhibitor.
  • Emerging pipeline candidates, including Pozelimab + Cemdisiran, Zaltenibart, and Ruxoprubart, are expected to further fuel market growth in the forecast period.
Jul 1, 2025, 5:01 PM
Novartis Pluvicto Demonstrates Positive Phase III Results in Prostate Cancer
·$NVS
Product Launch
New Projects/Investments
  • Novartis's Pluvicto demonstrated statistically significant and clinically meaningful benefit in radiographic progression-free survival (rPFS) in the Phase III PSMAddition trial for PSMA-positive metastatic hormone-sensitive prostate cancer (mHSPC), with a positive trend in overall survival (OS).
  • This marks the third positive Phase III read-out for Pluvicto, suggesting its potential for use in an earlier disease setting.
  • Novartis plans to submit for regulatory review in the second half of 2025 based on FDA feedback, following presentation of results at an upcoming medical meeting.
  • The company is investing in multiple manufacturing facilities globally, including new and expanded sites in the US and Europe, to support the growing demand for radioligand therapies (RLTs).
Jun 2, 2025, 12:00 AM