Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

Novartis Unveils New Strategy Focused On US-First, Eight Blockbuster Brands

Stock Markets Sep 22, 2022 12:11
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Novartis Unveils New Strategy Focused On US-First, Eight Blockbuster Brands
 
NOVN
-0.56%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
NVS
-0.15%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
NOVNEE
-1.02%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

  • Novartis AG (NYSE: NVS) has revealed insights into the updated company strategy. The company said that a 'US-first' mindset, increasing the share of U.S. patients in clinical trials, and building capability and talent, among other actions, will enable Novartis to achieve this objective.
  • Novartis' aspiration is "to improve competitive positioning and organically build its U.S. business to become a top-five player in the U.S. by 2027," it said in a statement.
  • In April, Novartis announced integrating its pharmaceuticals and oncology units into the Innovative Medicines business to simplify its structure, targeting savings of at least $1 billion by 2024. The transformation nears completion.
  • Also See: Novartis To Petition US Supreme Court To Uphold Patent Validity For Multiple Sclerosis Drug, Gilenya.
  • It stated that Novartis is also aiming to be a top-three player in China, a key growth market for the next decade, while maintaining leading positions in Germany and Japan.
  • Novartis announced a strategy based on eight big drug brands as the pharma giant reshapes itself following the decision to spin off its underperforming generics unit, Sandoz.
  • During the investor event, Novartis said the currently in-market brands - Cosentyx, Entresto, Zolgensma, Kisqali, Kesimpta, Leqvio, Pluvicto, and Scemblix - each held multibillion-dollar peak sales potential.
  • Novartis also said it would focus in the future on five areas for investment: cardiovascular, immunology, neuroscience, solid tumors, and hematology medicine.
  • The company confirmed its previous financial targets, "we will continue to deliver improved financials with +4% sales CAGR through 2027 and a core operating income margin ~40%+ in the mid-long term," it added.
  • Price Action: NVS shares are down 1.32% at $76.52 during the premarket session on the last check Thursday.
  • Photo Via Company
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Novartis Unveils New Strategy Focused On US-First, Eight Blockbuster Brands
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email