Investegate announcements from NOVARTIS AG CHF0.50(REGD), Novartis continues to grow with further core margin expansion and achieves important innovation milestones
Ad hoc announcement pursuant to Art. 53 LR Full year Net sales grew +4% (cc1, -2% USD) with core operating income growing +8% (cc, 0% USD) IM sales grew +4% (cc, -2% USD) and core operating
Investegate announcements from NOVARTIS AG CHF0.50(REGD), Novartis delivers mid single digit sales growth, margin expansion and advancement of robust pipeline in 2021
13 1Refers to continuing operations as defined on page 43 of the Condensed Financial Report, excludes Alcon, includes the businesses of Innovative Medicines and Sandoz, as well as the continuing corporate functions. 2Constant currencies (cc), core results and free cash flow are non-IFRS measures. An explanation of non-IFRS measures can be found on page 55 of the Condensed Financial Report. Unless otherwise noted, all growth rates in this Release refer to same period in prior year.
3 Please see detailed guidance assumptions on page 8 including the forecast assumption that we see a continuation of the return to normal global healthcare systems including prescription dynamics by mid 2021. In addition, we assume that no Gilenyaand noSandostatinLAR generics enter in 2021 in the US.
Novartis International AG: Novartis delivered sales growth and margin expansion. Continued to progress its next wave of medicines in 2020.
Pharmaceuticals BU grew 5% (cc) driven by
Entresto (+44% cc),
Cosentyx (+13% cc),
Xiidra acquisition (+95% cc)
Promacta/Revolade (+23% cc),
Piqray (reaching USD 0.3 billion)
Sandoz sales were in line (cc, -1% USD), with Biopharmaceuticals growing 19% (cc)
COVID-19 negatively impacted demand, particularly: ophthalmology, dermatology and Sandoz retail
Core operating income² grew 13% (cc, +9% USD) and Innovative Medicines and Sandoz core margin improved to 35% and 24% of sales respectively, driven by sales growth, lower spend and productivity
Continued transformation of Manufacturing and Business Services contributing to core margin expansion