Novartis AG (NVS) J.P. Morgan 43rd Annual Healthcare Conference (Transcript)

Key Points Company and Industry Overview 1. Novartis Transformation: Novartis has undergone significant transformation over the last decade, transitioning from a diversified healthcare conglomerate to a pure-play pharmaceutical company. This transformation involved creating four separate entities: Haleon Consumer Health with GSK, Alcon (medical devices), Sandoz (generics), and the current 100% focused Novartis. [3] 2. Innovative Medicines Performance: Despite these transformations, Novartis' Innovative Medicines business has demonstrated strong underlying performance. Sales have grown by 7%, core operating income by 14%, and margins have increased by 990 basis points. [3] [3]