Swiss pharmaceutical major Novartis (NYSE: NVS) has released its Q4 and full-year 2024 financial report, showing a 12% year-on-year (YOY) expansion in constant currency terms. The company achieved net sales of $50.317 billion, with core operating profit up 22% to $19.494 billion. During the fourth quarter, net sales increased by 16% to $13.153 billion, and core operating profit rose 29% to $4.859 billion.
Growth Drivers and Key Products
The main growth drivers included:
- Cardiovascular treatment Entresto (sacubitril/valsartan), with sales of $7.822 billion (+31%).
- Auto-immune disease drug Cosentyx (secukinumab), with sales of $6.141 billion (+25%).
- Multiple sclerosis therapy Kesimpta (ofatumumab), with sales of $3.224 billion (+49%).
- Breast cancer drug Kisqali (ribociclib), with sales of $3.033 billion (+49%).
- Radioligand therapy (RLT) Pluvicto, with sales of $1.392 billion (+42%).
- Lipid-lowering drug Leqvio (inclisiran), with sales of $754 million (+114%).
Q4 Milestones and Approvals
During Q4, Novartis achieved several key milestones:
- STAMP inhibitor Scemblix received FDA approval as a first-line treatment for Philadelphia chromosome-positive (Ph+) chronic myeloid leukemia in chronic phase (CML-CP).
- Kisqali was approved by the European Medicines Agency (EMA) for use in hormone receptor-positive (HR+)/human epidermal growth factor receptor-negative (HER2-) stage II and III early breast cancer (eBC).
- The oral complement Factor B inhibitor Fabhalta (iptacopan) was filed for marketing in the US for the treatment of C3 glomerulopathy (C3G), with priority review status.
- OAV101, a novel spinal muscular atrophy (SMA) therapy, yielded positive results from its Phase III STEER study.
Transformation and Future Outlook
In 2023, Novartis completed its transformation into a “pure” innovative pharmaceutical company. CEO Vas Narasimhan stated that 2024 represents Novartis’ first fiscal year as a pure innovative pharmaceutical company, with one of the strongest financial performances in the company’s history. Novartis also released its 2025 performance guidance, expecting net sales to achieve medium to high single-digit growth and core operating profit to achieve high single-digit to low double-digit growth.-Fineline Info & Tech
