Novartis AG (NYSE: NVS) reported full‑year 2025 net sales of USD 54.5 billion, up 8% year‑on‑year (YOY) at constant currency, driven by strong performance of priority brands. Operating income rose 25% to USD 17.6 billion, achieving a core operating margin of 40.1%. Q4 sales declined 1% YOY to USD 13.3 billion due to US generic entry for Entresto and Promacta.
Financial Performance Summary
Metric
2025 Full‑Year
YOY Growth (CER)
Key Drivers
Net Sales
USD 54.5 B
+8%
Priority brands offset generics
Operating Income
USD 17.6 B
+25%
Margin expansion to 40.1%
Q4 Net Sales
USD 13.3 B
-1%
Entresto/Promacta generic impact
2026 Guidance
Low single‑digit growth
—
Navigate patent expiry year
Product Sales Performance
Product
2025 Sales (USD B)
YOY Growth
Strategic Role
Kisqali (ribociclib)
4.8
+57%
Early breast cancer expansion
Kesimpta (ofatumumab)
4.4
+36%
Self‑administered MS leader
Pluvicto (lutetium‑177)
2.0
+42%
Prostate cancer growth
Scemblix (asciminib)
1.3
+85%
CML differentiation
Cosentyx (secukinumab)
6.7
+8%
Stable immunology base
Entresto (sacubitril/valsartan)
7.7
-2%
US generics from Q3’25
Promacta/Revolade (eltrombopag)
1.6
-27%
US/ex‑US generic impact
Regional Performance
Region
2025 Sales (USD B)
YOY Growth
Key Trends
United States
23.3
+10%
Priority brands strong
Europe
16.7
+8% (+4% cc)
Kesimpta, Entresto, Kisqali, Pluvicto growth
Emerging Growth Markets
14.0
+8% (+10% cc)
China sales USD 4.2 B (+8%)
China
4.2
+8% (USD & cc)
Key growth driver
2026 Outlook & Pipeline Milestones
Revenue Growth: Low single‑digit despite largest patent expiry in company history
Core Operating Income: Expected to decline low single‑digit
Acquisitions:Avidity acquisition expected to close H1 2026, strengthening RNA‑based therapeutics platform
Pipeline Catalysts:
Ianalumab: Global regulatory submissions planned early 2026 (Sjögren’s disease)
Remibrutinib: Full study readout and additional submissions for chronic inducible urticaria (CIndU) expected 2026
Pelabresib: US/EU filings for myelofibrosis planned 2026
Forward‑Looking Statements This brief contains forward‑looking statements regarding revenue projections, pipeline development, and commercial prospects for Novartis. Actual results may differ due to competitive dynamics, regulatory changes, and market conditions.-Fineline Info & Tech
By Fineline Cube 