Core Insights - Novartis has updated its mid-term sales guidance for 2025-2030 to a compound annual growth rate (CAGR) of +5-6% at constant currencies, reflecting strong growth momentum from existing products and upcoming launches [2][7] - The company has raised peak sales guidance for key products, now identifying eight de-risked, in-market assets with peak sales potential ranging from USD 3 billion to USD 10 billion [2][8] - Novartis anticipates over 15 potentially submission-enabling readouts in the next two years, supported by a robust pipeline of more than 30 high-value medicines [3][7] Financial Performance - Novartis achieved a core operating income margin of 41.2% in the first nine months of 2025, ahead of its plan, and expects to maintain margins above 40% by 2029 despite some dilution from the acquisition of Avidity Biosciences [4][5] - The company has executed over 30 strategic deals in the past two years, enhancing its pipeline and long-term growth outlook [5] Product and Pipeline Highlights - Key products Kisqali and Scemblix have seen their peak sales forecasts increased, with Kisqali now projected to exceed USD 10 billion and Scemblix expected to reach over USD 4 billion [8] - The pipeline includes over 30 potential high-value medicines, with more than 10 licensed or acquired in the last two years, positioning Novartis for sustainable growth beyond 2030 [3][7]