Swiss pharmaceutical giant Novartis raised its mid-term sales forecast on Thursday, now expecting an annual growth rate of 6% until 2028, driven by strong momentum of its existing drugs and the prospects of upcoming medications.
The company's previous mid-term target was for sales growth of at least 5% from 2023 to 2028, adjusted for exchange rates.
However, the company indicated that, considering its strong performance in 2024, it still expects annual sales growth of 5% from 2024 to 2029.
Novartis will hold an investor event on Thursday, where it reiterated that its core profit margin target is at least 40% by 2027.
The company also raised its estimates for the maximum annual sales of five drugs with billion-dollar sales potential: Cosentyx, Kisqali, Kesimpta, Pluvicto, and Leqvio.