Novartis upgrades mid-term guidance and highlights deep pipeline in core therapeutic areas to drive long-term growth

Core Viewpoint - Novartis has upgraded its mid-term sales guidance, expecting a compound annual growth rate (CAGR) of +6% for the period 2023-2028, driven by strong business momentum and upcoming product launches [1][2]. Sales Guidance - The previous sales CAGR guidance of +5% for 2023-2028 has been increased to +6%, reflecting robust growth drivers and anticipated launches with expected US exclusivity in the 2030s or later [1]. - For the period 2024-2029, Novartis expects a sales growth of +5% CAGR, using strong performance in 2024 as a base year [2]. Product Pipeline and Growth Drivers - Novartis has identified 8 in-market brands with peak sales potential ranging from USD 3 billion to USD 8 billion, alongside over 15 near-term submission-enabling readouts [1]. - The company has more than 30 high-value medicines in its pipeline, which are expected to support continued mid-single-digit sales growth beyond 2029 [1][3]. Strategic Focus and Acquisitions - The company has completed its transformation into a pure-play innovative medicines company, enhancing its capabilities in core therapeutic areas and technology platforms [3]. - Novartis has executed over 30 strategic deals in the last two years, focusing on exploratory to preclinical stages, including the acquisition of Kate Therapeutics and a collaboration with Ratio Therapeutics [3].