Novartis AG

Novartis is a multinational healthcare group based in Switzerland. Co. provides healthcare solutions that address the evolving needs of patients and societies worldwide. Co.'s broad portfolio includes innovative medicines, eye care products and cost-saving generic pharmaceuticals. Co.'s operations are organized along three operating divisions: Innovative Medicines Division; Sandoz Division; and Alcon Division. Co.'s operations are supported by the Novartis Institutes for BioMedical Research and Novartis Business Services.
  • TickerNOVN
  • ISINCH0012005267
  • ExchangeSix Swiss Exchange
  • SectorPharmaceuticals & Biotechnology
  • CountrySwitzerland
Bruno Cavalier ...
  • Louis Boujard, CFA
  • Philippe Ourpatian
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/27/2020

After years of unrealised €/$ bullish forecasts the single currency is finally on an upward trajectory. This change of course reflects a radical shift in the perception of the political risk associated with the European Union. The starting point for the rise (17 May) corresponds, moreover to the Franco-German announcement of the stimulus plan project. The European agreement of 21 July to begin the implementation process argues in favour, in a context of an upturn in PMIs, in favour of...

Louis Boujard, CFA ...
  • Philippe Ourpatian
  • Sylvain Goyon, CFA

ODDO BHF Small & MIDCAP MORNING NEWS - 27/07/2020

Après des années de prévisions haussières de l’€/$ non réalisées, l’euro connait enfin une trajectoire ascendante. Ce changement de cap reflète une évolution radicale de la perception du risque politique associé à l’Union européenne. Le point de départ de la hausse (17 mai) correspond d’ailleurs à l’annonce franco-allemande du projet de plan de relance. L’accord européen du 21 juillet pour engager son processus de mise en œuvre milite, dans un contexte de redressement des PMI, pour le...

Bruno Cavalier ...
  • Louis Boujard, CFA
  • Philippe Ourpatian
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 27/07/2020

Après des années de prévisions haussières de l’€/$ non réalisées, l’euro connait enfin une trajectoire ascendante. Ce changement de cap reflète une évolution radicale de la perception du risque politique associé à l’Union européenne. Le point de départ de la hausse (17 mai) correspond d’ailleurs à l’annonce franco-allemande du projet de plan de relance. L’accord européen du 21 juillet pour engager son processus de mise en œuvre milite, dans un contexte de redressement des PMI, pour le...

Team Pharma

ODDO : The run up to the US election

>Four new decrees - On Friday, president Trump signed four new decrees aimed at reducing the price of prescription drugs in the US. The aim is notably to align the price of drugs on the US market with a list of reference countries in which the prices are significantly lower. The first decree specifically targets insulin treatments for diabetic patients. In this specific case, the discounts granted to intermediaries should be automatically applied to patients. The...

Team Pharma

ODDO : Les élections US approchent

>4 nouvelles ordonnances - Vendredi dernier, le président Trump a signé 4 nouveaux décrets visant à réduire le prix du médicament sous prescription aux Etats-Unis. L'objectif est notamment d'aligner le prix du médicament sur le marché US à une liste de pays de référence dont le prix est nettement inférieur. La première ordonnance vise spécifiquement les traitements à insuline chez les patients diabétiques. Les rabais octroyés aux PBM (Pharmacy benefit management)...

Dave Nicoski ...
  • Ross LaDuke

Int'l Macro Vision: Sector Synopsis

Int'l Equity Strategy Global equities were on a tear in early January, continuing the trend that began in 4Q2019. As global equities started to get extended, the coronavirus outbreak hit in mid-January, leading to some market setbacks and deterioration in market indicators as global growth expectations were dialed-in. Despite this deterioration, what was important to us was that there were not any breakdowns. Even the areas of the market most-directly affected by the outbreak -- China (MSCI China) and EM (MSCI EM) -- were not breaking down. To us, this was a reassuring sign of underlying stre...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Another test of support Heightened trade tensions have caused global equities to move from resistance to support in a matter of days. Additional consolidation - i.e., no breakdowns - on the broad global indexes (MSCI ACWI, ACWI ex-US, EAFE, and EM) remains the most likely scenario. At the same time, new cracks are beginning to show and as a result we believe global equities are vulnerable to a breakdown. • New cracks emerging. Breakdowns in crude oil and new lows for the STOXX 600 Bank supersector are two recent developments which have dampened our overall outlook... see charts below. • Tes...

Dave Nicoski ...
  • Ross LaDuke

Global Equity Strategy

Global equities (MSCI ACWI) are testing 52-week lows as prices have been consolidating over the last 1-2 months. Investors' primary sources of angst continue to revolve around concerns of (1) the global shift toward tighter monetary policy and the potential for perceived policy missteps, (2) trade and tariffs, and (3) the potential negative effects both (1) and (2) may have on global growth. Comments from Fed Chair Powell that interest rates are “just below” the neutral rate and the 90-day tariff ceasefire agreement between the U.S. and China have not been able to calm the markets. In Europe, ...

Jérôme VINERIER

Analyse court terme - NOVARTIS : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. Les cours progressent toujours. Les objectifs suivants sont à 92,43 CHF et 100,54 CHF. La tendance serait invalidée sous le support à 77,60 CHF.

Jérôme VINERIER

Short term view - NOVARTIS : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress. The following targets are at CHF 92.43 and CHF 100.54. The trend would be invalidated below the support at CHF 77.60.

Stocks Remain Trend Down Into Election Vol (GMR Weekly Notes - 5 Nov 2018)

Markets This Week: Stocks: Novartis (NVS); Allergan (AGN); Pfizer (PFE); XPO Logistics (XPO); Tencent Holdings (TCEHY); Walmart (WMT) Forex: EURNZD; USDSGD; NOKSEK; XAUJPY Rates: EDZ9; Bunds (GDBR10) Commodities: Brent Crude (CO1)

Team Pharma

ODDO : The run up to the US election

>Four new decrees - On Friday, president Trump signed four new decrees aimed at reducing the price of prescription drugs in the US. The aim is notably to align the price of drugs on the US market with a list of reference countries in which the prices are significantly lower. The first decree specifically targets insulin treatments for diabetic patients. In this specific case, the discounts granted to intermediaries should be automatically applied to patients. The...

Team Pharma

ODDO : Les élections US approchent

>4 nouvelles ordonnances - Vendredi dernier, le président Trump a signé 4 nouveaux décrets visant à réduire le prix du médicament sous prescription aux Etats-Unis. L'objectif est notamment d'aligner le prix du médicament sur le marché US à une liste de pays de référence dont le prix est nettement inférieur. La première ordonnance vise spécifiquement les traitements à insuline chez les patients diabétiques. Les rabais octroyés aux PBM (Pharmacy benefit management)...

Eric Le Berrigaud

NOVARTIS: Adjusting some sales numbers down a bit after Q2 | BUY | CHF103 vs. CHF107 (+27%)

NOVARTIS - BUY | CHF103 vs. CHF107 (+27%) Adjusting some sales numbers down a bit after Q2 Underperforming brands in H1 should not fully recover Margins look protected Can improvements on ESG front offer upside?

Martial Descoutures ...
  • Sebastien Malafosse

Novartis : Sales down but good work in terms of the margin

>A slowdown expected due to COVID-19 - The company reported Q2 sales below expectations (-3.7% vs the consensus) but in line in terms of its core EPS. Group sales declined by -1% cc in Q2 (pharma +1% cc/ Sandoz -9% cc), negatively impacted by the purchases made in Q1 in anticipation of Q2 which were broadly not renewed in Q2. Regarding the pharma business, Cosentyx was up +12% cc, nonetheless hit by dermatology and rheumatology practices but offset by an increase...

Eric Le Berrigaud

NOVARTIS: Q2 numbers should leave markets unsurprised, including with minor guidance change | BUY | CHF107(+30%)

NOVARTIS - BUY | CHF107(+30%) Q2 numbers should leave markets unsurprised, including with minor guidance change Covid-19 is impacting selected brands within portfolio Margins are protected New catalysts needed to give the stock new momentum

Novartis AG - Annual 2016: Peer Snapshot

Peer Snapshot: Novartis AG - Annual 2016 7 February 2017 (in US millions) FYE Dec-14 FYE Dec-15 LTM Dec-16 FYE Dec-14 FYE Jan-16 LTM Oct-16 FYE Dec-14 FYE Dec-15 LTM Sep-16

Novartis AG: Credit Opinion Update Following Change in Outlook to Negative

CORPORATES CREDIT OPINION 6 February 2017 Update RATINGS Novartis AG Domicile Switzerland Long Term Rating Aa3 Type LT Issuer Rating - Dom Curr Outlook Negative Please see the ratings section at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Knut Slatten 33-1-5330-1077

Bruno Cavalier ...
  • Louis Boujard, CFA
  • Philippe Ourpatian
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/27/2020

After years of unrealised €/$ bullish forecasts the single currency is finally on an upward trajectory. This change of course reflects a radical shift in the perception of the political risk associated with the European Union. The starting point for the rise (17 May) corresponds, moreover to the Franco-German announcement of the stimulus plan project. The European agreement of 21 July to begin the implementation process argues in favour, in a context of an upturn in PMIs, in favour of...

Louis Boujard, CFA ...
  • Philippe Ourpatian
  • Sylvain Goyon, CFA

ODDO BHF Small & MIDCAP MORNING NEWS - 27/07/2020

Après des années de prévisions haussières de l’€/$ non réalisées, l’euro connait enfin une trajectoire ascendante. Ce changement de cap reflète une évolution radicale de la perception du risque politique associé à l’Union européenne. Le point de départ de la hausse (17 mai) correspond d’ailleurs à l’annonce franco-allemande du projet de plan de relance. L’accord européen du 21 juillet pour engager son processus de mise en œuvre milite, dans un contexte de redressement des PMI, pour le...

Bruno Cavalier ...
  • Louis Boujard, CFA
  • Philippe Ourpatian
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 27/07/2020

Après des années de prévisions haussières de l’€/$ non réalisées, l’euro connait enfin une trajectoire ascendante. Ce changement de cap reflète une évolution radicale de la perception du risque politique associé à l’Union européenne. Le point de départ de la hausse (17 mai) correspond d’ailleurs à l’annonce franco-allemande du projet de plan de relance. L’accord européen du 21 juillet pour engager son processus de mise en œuvre milite, dans un contexte de redressement des PMI, pour le...

Alfred Glaser ...
  • Delphine Brault

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/21/2020

We are providing an update on our conviction that Nexi is set to acquire its fellow Italian group SIA in the next few months. Looking beyond the appeal in financial terms (synergies of € 100m) and strategically (insourcing of processing and international expansion) for Nexi, we think that the Italian government (which owns 83% of SIA) is unlikely to pass up the opportunity to create a national champion in electronic payment, as in France with Worldline/Ingenico. Based on our simulatio...

Alfred Glaser ...
  • Delphine Brault

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 21/07/2020

Nous revenons sur notre conviction que Nexi va racheter son compatriote SIA dans les mois qui viennent. Au-delà de l’intérêt financier (synergies de 100 M€) et stratégique (internalisation du processing et ouverture à l’international) pour Nexi, le gouvernement italien (qui détient 83% de SIA) ne devrait pas manquer la possibilité de créer un champion national du paiement, comme en France avec Worldline/Ingenico. Notre simulation (prix payé, type de financement) fait ressortir un bull...

NOVARTIS AG loses on its star level and is downgraded to Slightly Positive

The independent financial analyst theScreener just slightly lowered the general evaluation of NOVARTIS AG (CH), active in the Pharmaceuticals industry. The title has lost a star(s) at the fundamental level and now shows 1 out of 4 stars. Its exposure to market risk remains nonetheless the same and can be still described as defensive. theScreener slightly downgrades the general evaluation to Slightly Positive for the title on account of the lost star(s). As of the analysis date May 1, 2020, the closing price was CHF 82.26 and its potential was estimated at CHF 93.36.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Novartis – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Novartis - February 28, 2019

ITEM 7.2 - Binding prospective vote on the total remuneration of the executive management. The total remuneration package requested for 20 expected members of the executive management is CHF 92 million for the 2019 financial year. Ethos cannot approve such an amount so far in advance, as performance targets have not yet been set. Also, the potential maximum variable remuneration (950% of base salary for the CEO) significantly exceeds the limit set in Ethos' guidelines. Ethos recommends to OPPOSE (points 4.6.a and 4.6.d of Ethos' guidelines). ITEM 8.12 - Elect Mr. Patrice Bula. He holds an exc...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch