The drugmaker said it returned to second-quarter sales growth as demand for key medicines offset U.S. generic pressure on products that lost patent protection.
Novartis said it returned to sales growth in the second quarter as demand for key medicines including Kisqali, Kesimpta, Scemblix, Pluvicto and Leqvio offset pressure from lower-priced competition in the U.S. Net sales for the quarter were USD 14.4 billion, up 3% in U.S. dollars and 1% at constant currencies. The company previously said core operating income was flat at USD 5.9 billion, while operating income fell 2% to USD 4.8 billion and net income dropped 19% to USD 3.3 billion. Free cash flow declined 12% to USD 5.6 billion. For the first half, net sales rose 1% in U.S. dollars to USD 27.5 billion but fell 2% in constant currencies. Novartis had attributed quarterly sales performance to strong volume growth, which added 18 percentage points, partly offset by a 14-point drag from generic competition and a 3-point negative pricing effect. It also reaffirmed its full-year 2026 outlook, expecting net sales to grow low single-digit and core operating income to decline low single-digit in constant currencies, barring unforeseen events.