Novartis maintains FY23 group guidance, mid-term outlook

After Novartis announced that the U.S. District Court for the District of Delaware issued a negative decision regarding the validity of a patent covering Entresto and combinations of sacubitril and valsartan, the company added: “Despite the potential for earlier-than-expected entry of generic Entresto products in the U.S., Novartis maintains its full-year 2023 group guidance to investors for Group Sales expected to grow mid-single digit in cc and Group Core OpInc expected to grow high-single digit in cc. The company also maintains its mid-term outlook of +4% sales growth in cc 2022-2027 CAGR, with 40% Core OpInc margin for Novartis ex-Sandoz. Novartis new focused strategy remains on track to deliver growth, driven by key in-market and launch brands, and a strong pipeline of high value innovative medicines.”