Novartis upgrades five-year sales guidance on "strong track record"

Novartis AG on Thursday said it has rolled forward its medium-term sales guidance, and expects to "sustain [its] momentum over the next five years".

The Basel, Switzerland-based pharmaceutical company increased its peak sales guidance for "key brands".

It expects Kisqali to generate USD10 billion for the five years ended 2030, up from prior guidance of USD8 billion. Guidance for Scemblix was raised from USD3 billion to USD4 billion.

Novartis said it now has eight de-risked and in-market assets with peak sales potential of USD3 billion to USD10 billion. These are Kisqali, Cosentyx, Kesimpta, Pluvicto, Scemblix, Leqvio, Fabhalta and Rhapsido.

Additionally, Novartis rolled forward its mid-term guidance to 2025 to 2030, with an expected sales compound annual growth rate of over 5% to 6% at constant currency.

The company said it is entering "a catalyst-rich period" and anticipates over 15 potentially submission-enabling readouts over the next two years.

"With significant replacement power and a robust pipeline featuring 30+ potential high-value medicines, including 10+ licensed or acquired in the past two years, the company is well positioned to drive long-term growth beyond 2030," it added.

Novartis said it delivered a core operating income margin of 41.2% in the first nine months of 2025, two years earlier than planned, and expects to return to margins exceeding 40% by 2029.

"As a pure-play medicines company, Novartis has delivered a strong track record of sales growth with core margin expansion," commented Chief Executive Officer Vas Narasimhan. "Looking ahead, we expect to sustain that momentum over the next five years, driven by assets we already have in hand as well as upcoming launches with multi-billion-dollar sales potential.

"Over the past two years, we have executed more than 30 strategic deals, bolstering our pipeline and strengthening the outlook of the business in the mid-2030s and beyond. With more than 30 potential high-value medicines in our pipeline across four core therapeutic areas and advanced technology platforms, we are well positioned for long-term sustainable growth."