Goldman Sachs initiated coverage of Novartis with a Buy rating and $120 price target. The anlasyt expects investors to continue to reward the company’s strong execution through mid-2025 before there is a pickup in innovation momentum. The Entresto patent expiry is reasonably well reflected and Novartis has a number of levers to offset the 2030-2035 patent cliff, the analyst tells investors in a research note.
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