Q1 2026 Novartis AG Earnings Call Transcript
Key Points
- Novartis AG (NVS) reported a strong start to 2026 with a 34% increase in sales for its growth drivers in constant currency.
- Kisqali showed significant growth, with a 55% increase in Q1, driven by strong performance in both early and metastatic breast cancer markets.
- Kesimpta achieved a 26% growth, outperforming the MS and B-cell markets, with strong operational execution in the US.
- Pluvicto sales grew by 76% in the US, with over 70% of business coming from the pre-taxane setting, indicating successful community adoption.
- Leqvio experienced 106% growth outside the US, particularly driven by strong demand in China following its NRDL listing.
- Core operating income declined by 14%, impacted by sales decline and increased R&D investments.
- The company faced significant US generic erosion, with sales down 5% in Q1.
- Cosentyx experienced competitive pressures in China, affecting its growth despite stable performance in other regions.
- The European filing for Pluvicto in the pre-taxane setting was withdrawn due to challenges with the comparator arm, impacting its approval timeline in that region.
- Novartis AG (NVS) anticipates a low single-digit decline in core operating income for the full year 2026, reflecting ongoing challenges from generic entries.
Good morning and good afternoon, and welcome to the Novartis Q1 2026 results release conference call and live webcast. (Operator Instructions) The conference is being recorded. (Operator Instructions) A recording of the conference call, including the Q&A session, will be available on our website shortly after the call ends.
With that, I would like to hand over to Ms. Sloan Simpson, Head of Investor Relations. Please go ahead, madam.
Thank you, Sharon. Good morning and good afternoon, and welcome to everyone to our Q1 2026 conference call. The information presented today contains forward-looking statements that involve known and unknown risks, uncertainties and other factors. These may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. For a description of some of these factors, please refer to the company's Form 20-F and its most recent quarterly results on Form 6-K that respectively were filed with and
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