Swiss pharmaceutical giant Novartis (NVS, Financial) has raised its mid-term sales forecast, now anticipating an annual growth rate of 6% through 2028. This optimistic outlook is driven by the robust performance of its existing drugs and the promising pipeline of new drugs set to enter the market. Previously, the company projected sales growth of at least 5% from 2023 to 2028, adjusted for currency fluctuations.
Despite the upward revision, Novartis maintains its expectation of a 5% annual sales increase for the period from 2024 to 2029, reflecting its strong performance. The company has reaffirmed its target of achieving a core operating profit margin of at least 40% by 2027. This target will be discussed further during an investor event.
Novartis has also increased the peak annual sales estimates for five of its key drugs, which have the potential to generate billions in revenue. These drugs include Cosentyx, Kisqali, Kesimpta, Pluvicto, and Leqvio, highlighting their significant contribution to the company's growth trajectory.
