Pharma Leader Beats on Earnings, But Shares Fall

NVS -4.59 (-4.11%) $112.48 Price Target $118.13 Get XLV alerts: In 2023, 70% of revenue came from promoted brands, and 30% from established brands. Within promoted brands, the company divided revenue into four broad therapeutic areas: Cardiovascular, renal & metabolic, Immunology, Neuroscience, and Oncology. A notable strategic move by Novartis in 2023 was the spin-off of Sandoz. Sandoz is a producer of generics and biosimilars. This spin-off enables Novartis to focus on being what it calls a "pure-play inn ...