Financial Performance - Novartis Q3 2025 net sales reached USD 13909 million, a 7% increase in constant currencies compared to Q3 2024[19, 108] - Core operating income also grew by 7% in constant currencies, reaching USD 5460 million in Q3 2025[19, 108] - The core margin was 393% in Q3 2025[19, 108] - Free cash flow for 9M 2025 was USD 15941 million, a 26% increase compared to 9M 2024[108, 112] - The company reaffirms its 2025 full-year guidance, expecting high single-digit sales growth and low-teens core operating income growth in constant currencies[20, 119, 120] Key Products Growth - Kisqali experienced a 68% growth in constant currencies during Q3[25, 27] - Kesimpta sales increased by 44% in constant currencies in Q3[25, 40, 41] - Pluvicto sales grew by 45% in constant currencies in Q3[25, 47, 48] - Scemblix sales increased by 95% in constant currencies in Q3[25, 67, 68] - Leqvio sales grew +54% cc in Q3[60, 61] Pipeline and Innovation - Rhapsido received FDA approval for Chronic Spontaneous Urticaria (CSU)[22, 88] - Ianalumab showed positive Phase III results in Sjögren's Disease (SjD)[22, 93] - Pluvicto's PSMAddition trial demonstrated a 28% reduction in risk of progression or death in PSMA+ mHSPC patients[54, 59]

Core Insights - Novartis is set to present data from 27 abstracts related to its Immunology portfolio at the 2025 ACR Convergence, including pivotal Phase III results for ianalumab in Sjögren's disease and biomarker data for rapcabtagene autoleucel in systemic lupus erythematosus [1][7] Group 1: Ianalumab and Sjögren's Disease - Ianalumab is an investigational therapy that may become the first targeted treatment for Sjögren's disease, which currently lacks FDA-approved options [2] - The NEPTUNUS-1 and NEPTUNUS-2 trials demonstrated significant reductions in disease activity for patients with Sjögren's disease [5][7] - Presentations will include insights into the dual mode of action of ianalumab, focusing on B cell depletion and blockade of B cell activating factor receptor signaling [3][5] Group 2: Rapcabtagene Autoleucel - Rapcabtagene autoleucel is a novel CAR-T cell therapy being evaluated for its potential to reset the immune system in severe refractory systemic lupus erythematosus [3][7] - Biomarker data from an ongoing Phase 1/2 study will be presented, suggesting a reset of the B cell compartment in patients with severe refractory SLE [8] Group 3: Cosentyx Data - Real-world data on Cosentyx (secukinumab) will be shared, particularly in relation to its use in psoriatic arthritis [3][8] - The data will compare the incidence of psoriatic arthritis in patients treated with different interleukin inhibitors [8] Group 4: Investor Engagement - Following the ACR event, Novartis will host a conference call for investors to discuss updates on its Immunology pipeline [4]

Group 1: Browser Competition - Microsoft announced a significant AI upgrade for its Edge browser, embedding the CoPilot assistant deeply into the browser [1] - Google is reportedly funding the Browser Choice Alliance (BCA) to accuse Microsoft of improperly promoting Edge using its Windows operating system monopoly [1] - Google holds a 68% share of the global desktop browser market, while Edge only accounts for 5% [1] Group 2: AI Achievements - OpenAI's internal AI reasoning system won a gold medal at the 2025 International Olympiad in Informatics (IOI), outperforming 98% of 330 top human competitors [2] - The AI system competed in an environment fully simulating human contestants [2] Group 3: Electric Vehicle Investment - Ford announced a $2 billion investment plan, raising its total investment in electric vehicles to $5 billion [3] - The investment aims to launch a series of affordable electric vehicles, addressing previous losses in its electric vehicle business [3] - The investment will convert Ford's Louisville, Kentucky plant from producing gasoline-powered Escape SUVs to a new electric vehicle product line [3] Group 4: Pharmaceutical Development - Novartis announced successful results from late-stage clinical trials for an experimental drug treating autoimmune diseases [4] - Patients with Sjögren's syndrome showed significant improvement after receiving Ianalumab treatment, with both trials meeting primary endpoints [4] Group 5: Chip Export Agreement - NVIDIA and AMD agreed to pay 15% of their revenue from chips sold to China to the U.S. government in exchange for export licenses [5] - NVIDIA will pay 15% of its revenue from H20 chips sold in China, while AMD will do the same for MI308 chips [5] - This revenue-sharing agreement for export licenses is unprecedented [5]

Novartis’s Ianalumab Meets Key Goal in Late-Stage Trials for Autoimmune Disease https://t.co/sOgYLNA0DE ...