Novartis Reports Strong Q4 and Full-Year 2024 Earnings
Basel, Switzerland – February 8, 2024 – Novartis AG (NYSE: NVS), a leading healthcare company and one of the largest pharmaceutical companies in the world, today reported its fourth-quarter and full-year 2024 earnings results, exceeding market expectations.
Q4 2024 Results:
- Revenue: $13.4 billion, up 4% from $12.9 billion in Q4 2023
- Earnings per Share (EPS): $0.75, exceeding the consensus estimate of $0.65
- Operating income: $3.8 billion, up 7% from $3.5 billion in Q4 2023
FY 2024 Results:
- Revenue: $52.1 billion, up 6% from $49.1 billion in 2023
- Earnings per Share (EPS): $3.25, exceeding the consensus estimate of $3.15
- Operating income: $13.4 billion, up 8% from $12.3 billion in 2023
Key Highlights and Developments:
- Strong performance across key franchises, including Net revenues of $8.1 billion from Pharmaceuticals, $2.5 billion from Vaccines and Diagnostics, and $1.6 billion from-eye care
- Positive momentum in mature brands, including Cosopt, Xolair, and Gleevec, as well as growth from newer products, such as Entresto and Symkevi
- Continued investment in innovation, with 20 new products and combinations launched in 2024, including the first combination of a CAR-T therapy and an immunotherapy
- Successful divestiture of the consumer health division, Alcon, for $1.5 billion, reducing debt and focusing the company’s portfolio on high-growth pharmaceuticals and innovative treatments
- Strong cash flow generation, with $8.2 billion in operating cash flow, supporting the company’s long-term growth strategy and strategic priorities
CEO Commentary:
"We are pleased to report a strong finish to a year marked by significant progress for Novartis," said Vas Narasimhan, CEO. "Our 2024 results reflect the hard work and dedication of our employees, as well as the success of our innovative portfolio and the strategic decisions we’ve made to focus on high-growth areas of the company. We are confident in our ability to continue driving growth and creating long-term value for our shareholders, patients, and patients’ families."
Forward-Looking Statements:
This report contains forward-looking statements that are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied. These include, among others, the success of our pipeline, pricing and reimbursement, market conditions, and regulatory requirements. For more information, please refer to our Form 10-K report.
About Novartis:
Novartis is a leading global pharmaceutical company based in Basel, Switzerland, with a diversified portfolio of innovative medicines and eye care products. The company is dedicated to Galeno – ‘meaning "to heal’ in Greek’ – with a mission to reimagine medicine to improve lives. Our vision is to be a leader in patient care, guns and vaccines; in neuroscience, ophthalmology and immunology; and in the development of advanced therapies. Discover more at www.novartis.com.
