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Novartis Pharma AG: Novartis delivered strong Q2 performance, driven by momentum of key growth brands. FY 2021 guidance unchanged.


Novartis Pharma AG: Novartis delivered strong Q2 performance, driven by momentum of key growth brands. FY 2021 guidance unchanged.
Net sales in Q2 grew +9% (cc¹, +14% USD):
Pharmaceuticals BU grew +12% (cc, +18% USD) with continued strong growth from
Entresto (+46% cc),
Oncology BU grew +7% (cc, +11% USD) driven by
Promacta/Revolade (+18% cc),
Sandoz grew +5% (cc, +11% USD) as the business is starting to stabilize
Excluding prior year forward purchasing de-stocking, we estimate Q2 net sales grew +5% (cc, +10% USD), Innovative Medicines grew +7% (cc, +11% USD) and Sandoz declined -1% (cc, + 6% USD)²
Q2 core¹ operating income grew +13% (cc, +18% USD) mainly driven by higher sales and favorable gross margin, partly offset by higher spend. Excluding prior year COVID-19 related forward purchasing de-stocking, we estimate core operating income increased +4% (cc, +10% USD) ....

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