Q3 2024 Novartis AG Earnings Call Transcript
Key Points
- Novartis AG (NVS) reported a strong operational performance with a 10% increase in sales and a 20% rise in core operating income in constant currencies.
- The company achieved a core margin of 40.1%, reflecting a 340 basis point improvement from the previous year.
- Novartis AG (NVS) raised its full-year guidance for the third time, indicating strong underlying business momentum.
- Key growth drivers such as Entresto, Cosentyx, and Kisqali showed significant sales growth, with Entresto increasing by 26% and Cosentyx by 28%.
- The company continues to expand its pipeline with important innovation milestones, including FDA approvals and positive opinions for several drugs like Kisqali and Fabhalta.
- Novartis AG (NVS) faces potential headwinds from upcoming loss of exclusivity (LOE) for key drugs like Entresto and Promacta, expected in mid-2025.
- The company experienced a safety signal in its [XXB] program, leading to its termination, impacting its cardiovascular portfolio.
- Currency fluctuations had a negative impact on financial results, with a 1% negative effect on net sales and a 3% negative impact on core operating income.
- The competitive landscape in the immunology sector is intensifying, with new entrants potentially challenging Novartis AG (NVS)'s market position.
- There are ongoing legal challenges and uncertainties related to patent litigations, which could affect future revenue streams.
Good morning and good afternoon, and welcome to the Novartis Q3 2024 Results Release Conference Call and Live Webcast. (Operator Instructions)The conference is being recorded. (Operator Instructions) A recording of the conference call, including the Q&A session, will be available on our website shortly after the call ends.
With that, I would like to hand over to Ms. Sloan Simpson, Head of Investor Relations. Please go ahead, madam.
Thank you so much. Good morning and good afternoon, everyone. Thank you for joining our Q3 2024 earnings call. The information presented today contains forward-looking statements that involve known and unknown risks, uncertainties and other factors.
These may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. For a description of some of these factors, please refer to the company's Form 20-F and its most recent quarterly results on Form 6-K that respectively were
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