Novartis is set to release its second-quarter results on July 18. Here's what you should know:
Sales at the Swiss pharmaceutical giant are projected to reach $13.45 billion in the second quarter, based on a FactSet consensus of seven estimates. This marks an increase from the $12.78 billion reported in the same quarter of the previous year.
Net Income Forecast
The expected net income for the quarter is $3.55 billion, according to a FactSet-provided consensus based on six estimates. This shows a slight increase from the previous year's net income of $3.43 billion.
Key Growth Drivers
Kisqali - Breast Cancer Treatment
One of the key focus areas for Novartis is its breast cancer treatment Kisqali. The company is expected to provide updated sales expectations for the drug, considering recent applications to expand its use. In 2022, Kisqali generated $1.2 billion in sales and served as a significant growth driver. Analysts believe that it will continue its momentum in the second quarter.
Pluvicto - Prostate Cancer Drug
Novartis also considers its prostate cancer drug, Pluvicto, as a growth driver. It is expected to maintain strong momentum in the second quarter, according to UBS analysts.
Jefferies analysts suggest that Novartis may revise its outlook for its innovative medicine pharmaceuticals division. If this occurs, the profit forecast for the business could be upgraded from a high single-digit outlook to low double digits.
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