Earnings summaries and quarterly performance for NOVARTIS.
Research analysts who have asked questions during NOVARTIS earnings calls.
James Quigley
Goldman Sachs
8 questions for NVS
Also covers: EVO, NVO, SNY +1 more
PV
Peter Verdult
Citigroup Inc.
7 questions for NVS
Also covers: AZN, EVO, GMAB +4 more
SB
Simon Baker
Redburn Atlantic
7 questions for NVS
Also covers: AUTL, AZN, BNTX +5 more
FC
Florent Cespedes
Bernstein
6 questions for NVS
Also covers: NVO, SNY
MW
Matthew Weston
UBS Group AG
6 questions for NVS
Also covers: AZN, GSK, SNY
RV
Richard Vosser
JPMorgan Chase & Co.
6 questions for NVS
Also covers: ARGX, AZN, MOLN +2 more
SF
Seamus Fernandez
Guggenheim Partners
6 questions for NVS
Also covers: AMLX, ARCT, ARQT +9 more
Thibault Boutherin
Morgan Stanley
6 questions for NVS
Also covers: ALVO, EVO, GRFS +2 more
Graham Parry
Bank of America Corporation
5 questions for NVS
Also covers: GRFS, GSK, SNY
RK
Rajesh Kumar
HSBC
4 questions for NVS
Also covers: AZN, BZLFY, LLY +2 more
EP
Emmanuel Papadakis
Deutsche Bank
3 questions for NVS
Also covers: AZN, NVO, SNY
KH
Kerry Holford
Berenberg
3 questions for NVS
Also covers: GSK, LLY, PFE
Michael Leuchten
Jefferies
3 questions for NVS
Also covers: AZN, GSK, NVO +1 more
Sachin Jain
Bank of America
3 questions for NVS
Also covers: AZN, GMAB, GSK +2 more
Steve Scala
Cowen
3 questions for NVS
Also covers: ABBV, AZN, BMY +6 more
EF
Emily Field
Barclays
2 questions for NVS
Also covers: AZN, GMAB, GSK +2 more
JG
James Gordon
JPMorgan Chase & Co.
2 questions for NVS
Also covers: ARGX, AZN, GRFS +3 more
ML
Michael Lyson
Jefferies Financial Group Inc.
2 questions for NVS
RF
Richard Foster
JPMorgan Chase & Co.
2 questions for NVS
Also covers: NVO
RP
Richard Parkes
BNP Paribas Exane
2 questions for NVS
Also covers: AZN, GSK, NVO
SD
Sachin Dean
Bank of America Corporation
2 questions for NVS
ST
Shirley Tan
Barclays PLC
2 questions for NVS
Steven Scala
TD Cowen
2 questions for NVS
Also covers: BMY
SS
Steven Skiena
The Toronto-Dominion Bank
2 questions for NVS
Eric Le Berrigaud
Stifel
1 question for NVS
Also covers: AZN, SNY
ED
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
MP
Mark Purcell
Morgan Stanley
1 question for NVS
Also covers: AZN, GSK
MN
Michael Nedelcovych
TD Cowen
1 question for NVS
Also covers: BHC, CHRS, MOLN +4 more
NC
Naresh Chouhan
Intrinsic Health
1 question for NVS
PW
Peter Welford
Jefferies
1 question for NVS
Also covers: AZN, GSK, NVO +1 more
SC
Shirley Chen
Barclays
1 question for NVS
Also covers: SNY
TA
Timothy Anderson
BofA Securities
1 question for NVS
Also covers: ABBV, AMGN, AZN +10 more
Recent press releases and 8-K filings for NVS.
Novartis Reports Strong FY 2025 Results, Achieves Core Margin Goal Early, and Provides 2026 Guidance
NVS
Earnings
Guidance Update
CFO Change
- Novartis delivered strong full-year 2025 results, with sales up 8% and core operating income up 14%, achieving its 40.1% core margin goal two years ahead of schedule.
- Key growth brands significantly contributed to performance, including Kisqali (up 57% to CHF 4.8 billion), Kesimpta (up 36% to $4.4 billion), and Scemblix (up 85%).
- For 2026, the company expects low single-digit sales growth and a low single-digit decline in core operating income, anticipating a stronger second half after initial impacts from generic entries.
- Novartis maintains confidence in a 5%-6% sales CAGR for the 2025-2030 period and aims to return to 40%+ core margin by 2029.
- The company also announced a CFO transition, with Harry Kirsch stepping down and Mukul Mehta taking over in mid-March.
3 days ago
Novartis Reports Full-Year 2025 Financial Results and CFO Transition
NVS
Earnings
Guidance Update
CFO Change
- Novartis delivered high single-digit growth in 2025, with full-year sales up 8% and core operating income up 14%, achieving a 40.1% core margin two years ahead of plan.
- For Q4 2025, sales declined 1% and core operating income increased 1%, impacted by gross-to-net adjustments and Entresto LOE, though underlying Q4 sales growth would have been positive 3% excluding these adjustments.
- The company achieved its upgraded full-year 2025 guidance and expects a 5%-6% sales CAGR from 2025-2030, driven by strong performance from key growth brands such as Kisqali (up 57% full year), Kesimpta (up 36% full year), Scemblix (up 85% full year), and Pluvicto (up 42% constant currency full year).
- Novartis is proposing a dividend of CHF 3.70 per share, representing a 6% increase, marking its 29th consecutive dividend increase.
- Harry Kirsch will transition from his role as Chief Financial Officer, with Mukul Mehta taking over in mid-March 2026.
3 days ago
Novartis Reports Strong FY 2025 Results and Provides 2026 Guidance
NVS
Earnings
Guidance Update
CFO Change
- Novartis delivered strong full-year 2025 financial results, with 8% sales growth, 14% core operating income growth, $8.98 core EPS (up 17%), and CHF 17.6 billion in free cash flow (up 8%), achieving a 40.1% core margin.
- For 2026, the company expects low single-digit sales growth and a low single-digit decline in core operating income, primarily due to the impact of US generic entries and a 1-2 percentage point core margin dilution from the Avidity deal. The year is anticipated to have a weaker first half followed by a stronger second half.
- The company continues its commitment to shareholder returns, proposing a CHF 3.70 per share dividend (a 6% increase and its 29th consecutive increase) and having CHF 7.7 billion remaining in its CHF 10 billion share buyback program.
- Key product updates include the US approval of Itvisma, which has a total sales potential of $3 billion+ and is expected to ramp up quickly over the next 2-3 years. Additionally, Pelabresib showed strong Phase 3 data, leading to an agreement with the EU to file in 2026.
- Harry Kirsch will be stepping down as CFO, with Mukul Mehta taking over the role.
3 days ago
Novartis Reports Strong Full Year 2025 Results and Provides 2026 Outlook
NVS
Earnings
Guidance Update
Share Buyback
- Novartis reported full year 2025 net sales of USD 54.5 billion, an 8% increase (8% cc), with core operating income up 14% (cc) to USD 21.9 billion and core EPS of USD 8.98, up 17% (cc).
- Free cash flow for full year 2025 was USD 17.6 billion, an 8% increase, while Q4 2025 free cash flow decreased by 54% to USD 1.7 billion.
- The company provided 2026 guidance expecting net sales to grow low single-digit and core operating income to decline low single-digit, incorporating the impact of an agreement with the US government on drug prices.
- In 2025, Novartis repurchased 77.6 million shares for USD 8.9 billion and proposed a dividend of CHF 3.70 per share for 2025, an increase of 5.7%. Net debt increased to USD 21.9 billion at December 31, 2025.
3 days ago
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.
Jan 12, 2026, 5:00 PM
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.
Jan 12, 2026, 5:00 PM
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.
Jan 12, 2026, 5:00 PM
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.
Jan 12, 2026, 12:10 PM
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
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
Quarterly earnings call transcripts for NOVARTIS.
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