Novartis (NYSE: NVS), the Swiss pharmaceutical giant, has released its financial results for the second quarter of 2024, demonstrating sustained strong performance akin to the first quarter of this year. Net sales experienced a robust 11% year-on-year (YOY) increase in constant currency terms, reaching USD 12.5 billion for the quarter. Additionally, the company saw a significant surge in profits, with net income climbing 49% YOY. Over the first half of 2024, Novartis recorded an 11% expansion in net sales growth, accumulating to USD 24.3 billion.
The composition of the top-selling drugs remained largely consistent in Q2’24. Entresto (valsartan + sacubitril), a hypertension therapy, generated USD 1.9 billion following a 28% YOY increase. Cosentyx (secukinumab), a treatment for psoriasis and other inflammatory diseases, saw sales expand by 22% YOY to USD 1.53 billion, propelled by recent launches for new indications and formulations in the US. Kesimpta (ofatumumab), a therapy for multiple sclerosis, recorded a 65% increase in sales, reaching USD 799 million, while Kisqali (ribociclib), a drug for breast cancer, enjoyed a 50% growth in sales, amounting to USD 717 million.
Novartis also delivered another impressive quarter in China, with Emerging Markets expanding by 16% and China’s sales surging 27% to USD 1.1 billion. This growth was primarily driven by the performance of Entresto and Xolair (omalizumab), a therapy for asthma and allergy.- Flcube.com
