TD Cowen Says Novartis (NVS) Has Strong Growth Path Through 2029

Group 1 - Novartis AG is recognized as a strong slow growth stock, with a projected sales CAGR of 6% from 2024 to 2029, supported by recent meetings with TD Cowen [1][2] - Key growth contributors include existing medicines such as Cosentyx, Pluvicto, Kisqali, Leqvio, Kesimpta, and Scemblix, which are expected to mitigate the impact of generic erosion, particularly for Entresto [2] - The company has a robust position in immunology with products like Rhapsido and ianalumab, which are considered "substantially de-risked" and likely to contribute to growth before 2030 [2] Group 2 - Novartis revised its mid-term sales target for 2025-2030 to a CAGR of 5-6% in constant currencies and aims to achieve margins above 40% by 2029, despite a projected 1-2 percentage points dilution from the acquisition of Avidity Biosciences [3] - The company is focused on discovering, developing, and manufacturing innovative treatments aimed at improving and extending lives while addressing serious diseases [4]