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Novartis AG reported third-quarter core earnings of $2.25 per share, slightly below the Zacks Consensus Estimate, but up from $2.06 a year ago. Revenues reached $13.9 billion, an 8% increase year-over-year, and slightly exceeding estimates. Core operating income rose 7% to $5.5 billion.
Key drug performances include Kisqali with a 68% revenue surge to $1.33 billion and Kesimpta increasing 44% to $1.2 billion. Conversely, Entresto saw a 1% decline in sales to $1.9 billion due to U.S. generic competition. The company also announced its plans to acquire Avidity Biosciences for $12 billion, aiming to enhance its neuroscience pipeline.
Novartis expects net sales growth in high single digits and core operating income growth in low teens for 2025.
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