NOVARTIS (NVS) Company Report

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.

Nov 24, 2025, 10:50 PM

6-K

Novartis Updates Mid-Term Sales Guidance and Pipeline Outlook

NVS

Guidance Update

M&A

New Projects/Investments

Novartis projects a +5-6% cc sales CAGR for 2025-2030, rolling forward its mid-term guidance.
Peak sales guidance for Kisqali was upgraded to USD 10 billion+ and Scemblix to USD 4 billion+, contributing to eight de-risked, in-market assets with USD 3-10 billion peak sales potential.
The company achieved a core operating income margin of 41.2% in the first nine months of 2025 and anticipates returning to 40%+ margins by 2029, despite dilution from the planned Avidity Biosciences acquisition.
Novartis's pipeline features 30+ potential high-value medicines and expects 15+ potentially submission-enabling readouts over the next two years.

Nov 20, 2025, 11:05 AM

6-K

Novartis Updates on Pipeline, Growth Outlook, and Key Therapeutic Areas

NVS

Guidance Update

New Projects/Investments

Product Launch

Novartis has upgraded its growth guidance to 5%-6% through 2030 and maintains a robust pipeline with 30 high-value assets.
The company expects to submit data for its CAR-T therapy, YTB, by 2027, following alignment with the FDA on registrational Phase 2 studies.
Novartis anticipates biosimilar exposure for Cosentyx in the U.S. no earlier than 2032 , and for Pelacarsen, a Phase 3 outcome trial data readout is expected in 2026.
The company sees a potential $30 billion sales market for Radioligand Therapies (RLT) and has over 20 RLT programs in research, with FAP 2286 showing uptake in 28 different tumor types.
The core tax rate is currently 16.2% and is projected to be between 15.5% and 17% through 2030.

Nov 20, 2025, 9:15 AM

Transcript

Novartis Provides Business Update and Strategic Outlook

NVS

Guidance Update

Product Launch

Share Buyback

Novartis has upgraded its guidance, expecting 5%-6% growth through 2030, supported by a robust pipeline with 30 high-value assets and numerous late-stage readouts.
The company reported a "phenomenal year" for its immunology team, highlighted by the FDA approval of Rhapsido (remibrutinib) for chronic spontaneous urticaria and positive phase III results for ianalumab in Sjögren's disease.
In the Cardiorenal Metabolic (CRM) segment, Leqvio has become a blockbuster, and key pipeline assets like pelacarsen and zigakibart are anticipated to have phase III data readouts in 2026.
Novartis maintains a strong capital allocation strategy, with significant cash flow projected to be around $20 billion annually in future years, and an ongoing $10 billion share buyback program over two and a half years.
The company's M&A strategy focuses on acquiring high-value, novel, first-in-class, or best-in-class assets within its four core therapeutic areas, including neurology, cardiovascular, immunology, and oncology.

Nov 20, 2025, 9:15 AM

Transcript

Novartis Highlights Strong Immunology Pipeline, Radioligand Therapy Growth, and Financial Strength

NVS

New Projects/Investments

M&A

Share Buyback

Novartis highlighted a robust immunology pipeline, including continued strong performance of Cosentyx (reinforcing $8 billion PIC/SAILS guidance) and the FDA approval of Rapsido (remibrutinib) for chronic spontaneous urticaria. Positive Phase III results for Enalumab in Sjogren's disease also position it for potential first approval.
The company is heavily investing in Radioligand Therapeutics (RLT), with over 20 programs in research and an ambition to grow this into a $30 billion market. This strategy includes developing broad pan-tumor targets and targeted therapies, leveraging significant R&D and manufacturing capabilities built since 2019.
Financially, Novartis announced a $10 billion share buyback program over 2.5 years (approximately $4 billion annually) supported by strong cash flow, projected to reach the $20 billion range. The core tax rate is expected to remain between 15.5% and 17% through 2030.
Strategic acquisitions like Mariana Oncology (RLTs) and Avidity (muscular dystrophies) are expanding key therapeutic areas, with a focus on high-value assets that meet a $2 billion peak sales threshold for an asset or $500 million for an indication.

Nov 20, 2025, 9:15 AM

Transcript

Novartis Updates Growth Outlook and Product Pipeline

NVS

Guidance Update

M&A

New Projects/Investments

Novartis upgraded its sales growth guidance to 6% for 2024-2029 and set a new guidance of 5-6% for 2025-2030, with expectations for continued mid-single-digit growth beyond 2030. The company reported $15.9 billion in free cash flow for the first nine months of the year.
The company expects a 1-2 percentage point decline in core margin in 2026 due to the Avidity acquisition, but anticipates climbing back to over 40% by 2029.
Novartis upgraded Kisqali's peak sales potential to over $10 billion and maintains strong outlooks for Cosentyx ($8 billion), Kesimpta (over $6 billion), and Pluvicto (over $5 billion). The pipeline includes 15+ submission-enabling readouts and 30 high-value pipeline assets.
The company is actively deploying capital through value-creating bolt-on acquisitions, completing 30 deals over the last year, and continues to return capital to shareholders via a consistent growing dividend and an ongoing $10 billion share buyback.

Nov 20, 2025, 8:00 AM

Transcript

Novartis Reports Strong Financial Performance and Upgrades Sales Growth Guidance

NVS

Guidance Update

M&A

New Projects/Investments

Novartis reported strong financial performance with 7% sales growth, 15% core operating income growth, and 1,100 basis points of margin improvement over the year, achieving $15.9 billion in free cash flow in the first nine months and a 17% return on invested capital.
The company upgraded its sales growth guidance for 2024-2029 to 6% and guided for 5-6% sales growth for 2025-2030. A 1-2 percentage point core margin decline is expected in 2026 due to the Avidity acquisition, with a recovery to 40%+ by 2029.
Key product updates include Kisqali's peak sales potential upgraded to $10 billion+ and Scemblix guidance raised. The pipeline features 15+ submission-enabling readouts and 30 high-value assets, with a focus on RNA therapeutics, radioligand therapies, and cell and gene therapies.
Capital allocation priorities include investing in the business, value-creating bolt-on acquisitions (30 deals last year), consistent growing dividends, and ongoing share buybacks, including a $10 billion buyback currently in progress.

Nov 20, 2025, 8:00 AM

Transcript

Novartis Announces North Carolina Manufacturing Expansion

NVS

Hiring

New Projects/Investments

Novartis plans to significantly expand its manufacturing operations in North Carolina, investing $771 million to nearly double its local footprint to over 700,000 square feet.
This expansion is projected to create 700 new jobs by 2030 with an average salary exceeding local county averages, and is supported by a $21.8 million incentives package from state and local governments.
The initiative is part of Novartis' broader $23 billion U.S. infrastructure investment plan over five years, aimed at enhancing domestic production capacity and supply chain resilience for gene therapies, biologics, and small molecule medicines.

Nov 19, 2025, 10:56 PM

Barron's

Novartis Capital Corporation Issues $6 Billion in Notes Guaranteed by Novartis AG

NVS

Debt Issuance

Novartis Capital Corporation issued a total of $6,000,000,000 aggregate principal amount of various notes, fully and unconditionally guaranteed by Novartis AG.
The issuance includes $800,000,000 aggregate principal amount of Floating Rate Notes due November 5, 2028, with an interest rate basis of Compounded SOFR plus 52 bps.
Fixed-rate notes issued include $700,000,000 of 3.900% Notes due 2028, $1,750,000,000 of 4.100% Notes due 2030, $925,000,000 of 4.300% Notes due 2032, $925,000,000 of 4.600% Notes due 2035, $350,000,000 of 5.200% Notes due 2045, and $550,000,000 of 5.300% Notes due 2055.
The Terms Agreement for these notes was dated November 3, 2025, with an expected settlement date of November 5, 2025.