Novartis Posts Strong Q4 with Sales Exceeding Estimates
Novartis reported its quarterly results on Friday, showing adjusted net income significantly above analyst expectations. The performance was driven by robust sales growth of its heart failure drug Entresto and multiple sclerosis drug Kesimpta.
* Entresto: Quarterly revenues surged 33% to $2.18 billion, surpassing estimates. Despite impending patent expiration, the drug continues to perform strongly.
* Kesimpta: Sales of this self-injectable MS treatment skyrocketed by nearly 50% to $950 million, beating market expectations.
Overall, Novartis' adjusted net income surged 26% to $3.93 billion, exceeding the analyst consensus of $3.64 billion.
Looking ahead, the company projects a "high single to low double-digit" percentage increase in operating income for 2025, excluding currency effects. This represents a notable acceleration from the 22% growth anticipated in 2024.