Novartis (NVS) reported Q2 EPS of $1.56, $0.04 better than the analyst estimate of $1.52. Revenue for the quarter came in at $12.78 billion versus the consensus estimate of $12.93 billion.
2022 outlook:
Barring unforeseen events; growth vs. prior year in cc
Innovative Medicines | Sales expected to grow mid single digit Core operating income expected to grow mid to high single digit, ahead of sales |
Sandoz | Sales expected to grow low single digit (revised upwards from broadly in line) Core operating income expected to be broadly in line with prior year (revised upwards from to decline low to mid single digit) |
Group | Sales expected to grow mid single digit Core operating income expected to grow mid single digit |
Our guidance assumes that we see a continuing return to normal global healthcare systems, including prescription dynamics, and that no Gilenya and no Sandostatin LAR generics enter in the US.
In June 2022, an appeals court held the Gilenya US dosing regimen patent invalid. Novartis plans to petition the appeals court for further review to uphold validity of the dosing regimen patent. There is no generic competition in the US at this time. In Q2, Gilenya US sales were USD 332 million, US sales have been steadily declining due to competitive pressures.