The Basel-based drugmaker, which spun off and listed generic drugs business Sandoz on Oct. 4, said in a statement that it expects group core operating income to grow by a percentage of “mid to high teens” in 2023, up from “low double-digit to mid teens” predicted previously.
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Novartis on Wednesday predicted that core operating income would grow in a “mid single digit” percentage range in 2023 following stagnation last year, as the Swiss drugmaker prepares to spin off its Sandoz generics business.
With Novartis facing a potential loss of $9 billion through 2026 from patent expirations, the company announced topline results for Pluvicto for PSMA-positive metastatic castration-resistant prostate cancer (mCRPC).
Swiss pharma giant Novartis said it would make growth in the United States its top geographic priority, even after laws were passed to rein in drug prices in the world’s largest pharmaceutical market.