Novartis's Targets Exceed Expectations, But Investors Might Stay Cautious -- Market Talk

Dow Jones11-20

0840 GMT - Novartis's new sales-growth target implies 2030 sales ahead of current consensus expectations, but investors might stay cautious on its long-term prospects due to uncertainty about whether the company's drug pipeline will progress as hoped, J.P. Morgan analysts say in a research note. The Swiss pharmaceutical company is targeting annual sales growth of 5% to 6% at constant currency over the 2025-30 period, which points to 2030 sales of $72.41 billion, according to JPM. This is 9% ahead of consensus estimates, the analysts say. Consensus expectations will likely increase over time, but not to those levels since that would require a number of drug candidates to be successful, they add. Beyond 2030, investors will probably stay cautious due to a large number of patent expirations, JPM says. Shares rise 0.5%. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

November 20, 2025 03:41 ET (08:41 GMT)

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