Novartis extends mid-term growth targets

Novartis extends but moderates medium-term growth targets Keystone-SDA

Novartis is extending its medium-term outlook by one year. Over the period 2025-2030, the Swiss pharma giant aims to achieve annualised, currency-adjusted growth of around 5 to 6%, compared with more than 6% over the period 2024-2029.

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Management is aiming to restore the core operating margin to above 40% by 2029, once it has absorbed an impact of one to two basis points from the planned acquisition of Avidity Biosciences.

Completion of this acquisition, worth some $12 billion, is scheduled for the first half of next year, the Basel-based firm said at its investor day.

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The group has also revised upwards the annual commercial potential of its anti-cancer drugs Kisqali and Scemblix, to more than $10 billion from more than $8 billion and more than $4 billion from more than $3 billion respectively.

The product portfolio now includes eight commercial assets with potential annual revenues of between $3 billion and $10 billion.

Translated from French by DeepL/mga

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