- Novartis AG NVS has revealed insights into the updated company strategy. The company said that a 'US-first' mindset, increasing the share of U.S. patients in clinical trials, and building capability and talent, among other actions, will enable Novartis to achieve this objective.
- Novartis' aspiration is "to improve competitive positioning and organically build its U.S. business to become a top-five player in the U.S. by 2027," it said in a statement.
- In April, Novartis announced integrating its pharmaceuticals and oncology units into the Innovative Medicines business to simplify its structure, targeting savings of at least $1 billion by 2024. The transformation nears completion.
- Also See: Novartis To Petition US Supreme Court To Uphold Patent Validity For Multiple Sclerosis Drug, Gilenya.
- It stated that Novartis is also aiming to be a top-three player in China, a key growth market for the next decade, while maintaining leading positions in Germany and Japan.
- Novartis announced a strategy based on eight big drug brands as the pharma giant reshapes itself following the decision to spin off its underperforming generics unit, Sandoz.
- During the investor event, Novartis said the currently in-market brands - Cosentyx, Entresto, Zolgensma, Kisqali, Kesimpta, Leqvio, Pluvicto, and Scemblix - each held multibillion-dollar peak sales potential.
- Novartis also said it would focus in the future on five areas for investment: cardiovascular, immunology, neuroscience, solid tumors, and hematology medicine.
- The company confirmed its previous financial targets, "we will continue to deliver improved financials with +4% sales CAGR through 2027 and a core operating income margin ~40%+ in the mid-long term," it added.
- Price Action: NVS shares are down 1.32% at $76.52 during the premarket session on the last check Thursday.
- Photo Via Company
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