BASEL (dpa-AFX) - Novartis Pharma, a unit of Novartis AG (NVS) Thursday said it has raised its mid-term sales guidance ahead of the company's Meet Novartis Management event.
Novartis currently sees sales growing at a CAGR of 6 percent for the period 2023-2028, up from the previous guidance of 5 percent growth, driven by strong momentum in the business.
Gross sales are expected to grow at a CAGR of 5 percent for the period 2024-2029.
The company said it has 8 in-market bands with peak sales potential of more than $3 billion - $8 billion, and over 15 near-term submission-enabling readouts.
'Longer term, we've identified more than 30 assets in the pipeline with significant potential to rejuvenate our portfolio and support mid-single-digit growth post 2029,' said Vas Narasimhan, CEO of Novartis.
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