Novartis lifts medium-term growth guidance as launches near

Novartis on Thursday raised its medium-term sales growth forecast, citing upcoming product launches expected to drive future performance.

Novartis lifts medium-term growth guidance as launches near

The Basel, Switzerland-based pharmaceutical giant now anticipates compound annual sales growth of 6% from 2023 to 2028, up from its previous guidance of 5%. This optimism is driven by strong momentum from existing growth drivers and a robust pipeline of new products, many of which are expected to retain U.S. exclusivity into the 2030s and beyond. “Our focus has sharpened our commercial execution and increased peak sales projections for key products like Cosentyx, Kisqali, Kesimpta, Pluvicto, and Leqvio," said CEO Vas Narasimhan. "With more than 15 submission-enabling readouts expected in the coming years, we are poised to strengthen our growth profile further."

Updates on pipeline assets

Looking ahead, Novartis has identified over 30 pipeline assets with significant potential to reinvigorate its portfolio and sustain mid-single-digit growth beyond 2029. Eight brands alone are projected to achieve peak sales ranging from $3 billion to $8 billion. In 2023, Novartis reported $45.44 billion in net sales. The company’s portfolio expansion is underpinned by a capital allocation strategy focused on "value-creating bolt-on" acquisitions. Over the past two years, Novartis has executed more than 30 strategic deals, many targeting early-stage assets. Recent transactions include the acquisition of Kate Therapeutics, supporting innovation in gene therapies for neuromuscular disorders, and a global licensing and collaboration agreement with Ratio Therapeutics Inc. for a next-generation SSTR2-targeting radiotherapeutic candidate, bolstering Novartis’s extensive radioligand therapy pipeline.