Novartis : Q3 ahead of expectations – FY guidance upgraded
>Excellent performance from flagship products - Q3 came in ahead of expectations for revenues (+2% vs consensus) and core EPS (+6% vs consensus). Sales grew 10% cc (9% reported), driven by all the flagship products: Entresto (26% cc, -1% vs cons.), Cosentyx (28% cc, +8% vs cons.), Kisqali (43% cc, +1% vs cons.), Kesimpta (28%, +1% vs cons.) and Pluvicto (50% cc, +2% vs cons.). We note that c. 60% of the beat stems from the excellent performance from Cosentyx driven by...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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