Novartis AG (FRA:NOT)
€ 131.52 +2.76 (+2.14%) Market Cap: 254.78 Bil Enterprise Value: 290.16 Bil PE Ratio: 22.13 PB Ratio: 7.77 GF Score: 83/100

Novartis AG at JPMorgan Healthcare Conference Transcript

Jan 12, 2026 / 05:00PM GMT
Release Date Price: €120.76 (-1.26%)
Richard Vosser
JPMorgan Chase & Co - Analyst

Welcome to the 44 JPMorgan Healthcare Conference. I'm Richard Vosser, European pharma analyst at JPMorgan. It's my great pleasure to host the CEO of Novartis, Vas Narasimhan, for this presentation. Just a housekeeping. If you have a question, you can either raise your hand or you can go through the portal.

And with that, Vas, welcome to the conference.

Vasant Narasimhan
Novartis AG - Chief Executive Officer, Member of the Executive Committee

Terrific. So a very good -- Happy New Year, everybody, and great to be here with you today. This is a momentous occasion because it's the first time in my tenure, entering into my ninth year that we are a buy rating from JPMorgan. So really happy about that as I come here today. But overall, I think really happy to share with you the story of where we are at Novartis on our journey.

As you know, over the last decade, we've really focused as a pure-play medicines company, exited all of our businesses, focused on high-end leading technologies in the

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