Novartis AG reported stronger-than-expected fourth-quarter results, with net sales of $13.2 billion and adjusted core operating profit of $4.87 billion, exceeding analysts’ estimates. For 2024, the company projects net sales of $50.32 billion, driven by successful drug launches, particularly Cosentyx, and a significant increase in core operating profit to $19.5 billion. CEO Vas Narasimhan emphasized the positive impact of strategic changes made in 2023, positioning Novartis as an innovative pharmaceutical company, with growth anticipated through 2025. The company plans to diversify growth through acquisitions of smaller firms while progressing its development pipeline, which includes over 30 assets in clinical trials. Narasimhan noted the importance of blending internal and external sales, aiming for a 50-50 split.
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