Novartis (NVS) reported $11.83 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 8.7%. EPS of $1.80 for the same period compares to $1.71 a year ago.The reported revenue represents a surprise of +2.85% over the Zacks Consensus Estimate of $11.5 billion. With the consensus EPS estimate being $1.73, the EPS surprise was +4.05%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expec ...

Swiss pharma giant Novartis AG (NVS) reported better-than-expected results for the first quarter of 2024. Core earnings (excluding one-time charges) of $1.80 per share beat the Zacks Consensus Estimate of $1.73 and were up from $1.54 a year ago. The year-over-year growth was driven by an increase in sales.Revenues of $11.8 billion climbed 10% from the year-ago quarter. On a constant currency basis, sales increased 11%, driven by momentum in Entresto, Kesimpta, Kisqali, Cosentyx, Pluvicto and Leqvio. Sales e ...

Signage for Novartis AG at a building in the company's headquarters campus in Basel, Switzerland, on Monday, Jan. 8, 2023.Shares of Swiss drugmaker Novartis climbed 4.8% in early deals on Tuesday, after the company raised its full-year guidance following better-than-expected first-quarter results.The company said 2024 net sales are now anticipated to pick up by a high-single to low double-digit percentage, up from a previous outlook of mid-single-digit growth. The drugmaker has also revised its expectations ...

Novartis AG (NVS) , a Swiss pharma giant, is scheduled to report first-quarter 2024 results on Apr 23.The company’s earnings surpassed estimates in three of the last four quarters and missed in the remaining one, the average surprise being 3.72%. In the last reported quarter, NVS’ earnings missed estimates by 6.71%.Let's see how things might have shaped up prior to the announcement. Factors Driving GrowthWith the successful spin-off of the Sandoz business in October 2023, Novartis operates as a single globa ...

Analysts on Wall Street project that Novartis (NVS) will announce quarterly earnings of $1.73 per share in its forthcoming report, representing an increase of 1.2% year over year. Revenues are projected to reach $11.5 billion, declining 11.2% from the same quarter last year.The consensus EPS estimate for the quarter has undergone a downward revision of 1.1% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates du ...

Novartis (NVS) presented encouraging results from a pre-specified interim analysis of the phase III APPLAUSE-IgAN study of Fabhalta (iptacopan).Fabhalta, an oral, Factor B inhibitor of the alternative complement pathway, is already approved by the FDA for the treatment of adults with the rare blood disorder paroxysmal nocturnal hemoglobinuria.Novartis is looking to expand the drug’s label for the treatment of immunoglobulin A nephropathy (IgAN), a heterogeneous, progressive, rare kidney disease.APPLAUSE-IgA ...

Novartis (NVS) entered into an exclusive strategic license agreement with a clinical-stage biotechnology company, Arvinas, Inc. (ARVN) , for the worldwide development and commercialization of the latter’s pipeline candidate ARV-766.  Shares of ARVN were up on the news.The deal also includes an asset purchase agreement for the sale of Arvinas’ preclinical AR-V7 program to Novartis.Per the terms of the deal, Novartis will be responsible for the global development and commercialization of ARV-766. NVS will als ...

Novartis (NVS) is set to reduce its workforce by 680, per a report by Reuters. It will do so in its development organization, which helps bring its drugs to the market.Of the reported figure, around 440 jobs will be cut in Switzerland and up to 240 in the United States over the next two to three years.This headcount reduction is separate from the restructuring program (announced earlier), wherein Novartis will slash up to 8,000 of its total global workforce of 78,000.The article stated that the company curr ...

Novartis (NYSE:NVS) layoffs are in the news Wednesday after the healthcare company announced plans to cut jobs in the U.S. and Switzerland.Starting with its U.S. jobs, the company intends to reduce its headcount by 240 workers. Employees in its product development division will be the ones hit by these cuts.The same is true for the Novartis layoffs in Switzerland, which will affect 440 workers. Both the U.S. and Swiss layoffs are set to take place over the next two to three years.A spokesperson for Novartis ...

In the latest trading session, Novartis (NVS) closed at $95.79, marking a -1.14% move from the previous day. This change lagged the S&P 500's 1.11% gain on the day. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 1.24%.The drugmaker's stock has dropped by 3.04% in the past month, falling short of the Medical sector's loss of 2.46% and the S&P 500's gain of 0.48%.Investors will be eagerly watching for the performance of Novartis in its upcoming earnings disclosure. It is anticipated ...