- Novartis AG
- 31 January 2025 11:05:42
Source: Sharecast
Net sales in the final three months of 2024 rose 16% year-on-year to $13.15bn, up 15% at constant currencies, helped by strong growth for its heart failure treatment Entresto (+34% at constant FX) and MS drug Kesimpta (+49%).
Adjusted net income in the fourth quarter was 26% higher than last year at $3.93bn, well ahead of the consensus forecast of $3.64bn. Core operating income was 27% higher at $4.86bn.
For 2024 as a whole, net sales were up 12% at $50.32bn, while core operating income jumped 19% to $19.50bn.
“In our first full year as a pure-play innovative medicines company, Novartis delivered one of the strongest financial performances in our history," said chief executive Vas Narasimhan.
"We also achieved important innovation milestones, including new approvals and readouts for many of the assets that will fuel our growth over the mid- to long-term. With the momentum we are seeing in the business, we expect to continue our strong sales growth with margin expansion in 2025 and we remain on track to deliver on our mid-term guidance."
For 2025, the company is guiding to mid- to high-single digit growth in net sales and high single to low double-digit growth in core operating income.
The stock was 3.6% higher at CHF97.16 by 1147 in Zurich.