Novartis (NYSE: NVS), the Swiss pharmaceutical giant, reported a substantial leap in its global sales for the last financial year, amassing USD 45.4 billion—a 10% year-on-year (YOY) increase in constant currency terms, as per the 2023 financials released this week. This achievement marks Novartis’s inaugural annual report following the strategic divestment of Sandoz, signifying the company’s pivot to focus on innovative medicines. Business segments such as immunology, oncology, neuroscience, and cardiovascular, renal, and metabolic saw YOY expansions of 8%, 23%, 34%, and 36% respectively, while established brands experienced a 12% YOY contraction.
Key growth drivers for the period included hypertension treatment Entresto (valsartan + sacubitril), which soared 31% YOY to USD 6.0 billion, MS therapy Kesimpta (ofatumumab) with a 99% increase to USD 2.2 billion, breast cancer drug Kisqali (ribociclib) with a 75% rise to USD 2.1 billion, targeted radiopharmaceutical Pluvicto (lutetium Lu 177 vipivotide tetraxetan) showing a 261% surge to USD 980 million, and TKI Scemblix (asciminib) with a remarkable 179% growth to USD 413 million. However, MS drug Gilenya (fingolimod) faced a 54% YOY decline due to generic competition, reducing its global sales to USD 925 million and stripping it of its blockbuster status.
Geographically, the European market contributed USD 15.0 billion with a 4% YOY growth, the US market reported a 13% increase to USD 18.0 billion, and other economies, including China, expanded by 17% to USD 11.7 billion, with China itself growing by 17% to USD 3.3 billion.
China, highlighted as a key market alongside Germany, Japan, and the US, played a significant role in the growth of Entresto through continued adoption in heart failure and increased hypertension penetration. The market also witnessed a rebound in sales of IL-17 inhibitor Cosentyx (secukinumab) and growing adoption of cardiovascular drug Leqvio (inclisiran) in the self-pay sector, as its inclusion in the National Reimbursement Drug List (NRDL) is not anticipated until 2025.- Flcube.com
