Novartis AG: Positive Expectations for Scemblix

In Q1 2024, Novartis delivered robust growth, reflecting in a double-digit sales growth and core margin expansion. Sales were up by 11% in constant currency, and core operating income was up by 22%. The core margin reached 38.4%, inching steadily towards the set goal of over 40% by 2027. This performance has allowed the company to upgrade its guidance. The pharmaceutical giant witnessed remarkable innovation milestones during the quarter, some of which included the positive opinion on Fabhalta which will allow for its launch in Europe, the first-line readout of Scemblix which indicates significant potential, and the updated results on PSMAfore that will enable the company to progress the filing of Pluvicto in the United States.