ZURICH – Swiss pharmaceutical giant Novartis revised its full-year earnings forecast upward on Thursday, citing strong second-quarter performance, particularly from its key oncology portfolio.
The company highlighted robust sales of its breast cancer drug Kisqali, among other therapies, as a major driver of improved profitability. As a result, Novartis now expects core operating income to grow in the low teens percentage-wise, up from its earlier guidance of low double-digit growth.
The upgrade reflects strong demand across its innovative medicines division, positioning Novartis well for the remainder of 2024 despite a challenging global healthcare environment marked by regulatory shifts and pricing pressures.
The company is continuing to streamline operations and focus on high-margin assets, while investing heavily in oncology, immunology, and cardiovascular treatments. Kisqali, in particular, has shown increasing market share in the treatment of HR-positive, HER2-negative breast cancer, a category with high unmet demand globally.
Novartis is also preparing for multiple regulatory filings and late-stage data readouts in the second half of the year, which could further influence its financial trajectory and R&D focus.
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Analysts welcomed the more optimistic guidance, though they remain cautious about broader market dynamics and competition in the oncology space.
With a solid second quarter under its belt, Novartis appears well-positioned to continue building on its momentum, supported by a focused pipeline and expanding global footprint.
