Novartis reported a 12% increase in sales in the third quarter of 2023, leading to an upgrade in its full-year guidance for core operating income. The company has completed its transition to a “pure-play” innovative medicines business, with Sandoz spun off as a separate entity. Novartis also achieved innovation milestones, including positive phase 3 results for various products. Net sales reached $11.8 billion and net income grew by 37%. The company has initiated a share buyback of up to $15 billion. CEO Vas Narashimhan expressed confidence in the company’s mid-term growth outlook and commitment to creating value for shareholders.
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Novartis reports sales up 12% in Q3 2023 as ‘pure-play’ transformation complete
