Swiss pharmaceutical giant Novartis on Friday reported fourth-quarter results after repeatedly raising its full-year guidance.
Swiss pharmaceutical giant Novartis on Friday reported better-than-expected sales in the fourth quarter, but falling short of its own guidance over the full-year stretch.
For 2024, net sales rose 12% on a constant currency basis to $50.32 billion, versus $50.47 billion forecasted. Full-year core operating income increased 22% to $19.5 billion versus the $17.02 billion forecasted. CEO Vas Narasimhan said the results marked a positive early signal since implementing a strategic overhaul of the business in 2023."In our first full year as a pure-play innovative medicines company, Novartis delivered one of the strongest financial performances in our history, growing sales 12% cc and core operating income 22% cc," Narasimhan said in a statement accompanying the results.
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