Novartis AG (NYSE:NVS) J.P. Morgan 43rd Annual Healthcare Conference January 14, 2025 12:00 PM ET
Company Participants
Vas Narasimhan – Chief Executive Officer
Conference Call Participants
Richard Vosser – J.P. Morgan
Richard Vosser
Welcome to the Novartis presentation at the 43rd JPMorgan Healthcare Conference. I’m Richard Vosser, European pharma analyst with JPMorgan. It’s my great pleasure to introduce Vas Narasimhan, the CEO of Novartis. Before I hand over to Vas, I’d just remind you that there is a Q&A period after Vas’s presentation. So, you can either put up your hand or you can submit through the portal, and then we’ll take your questions. Vas, a great welcome to the conference.
Vas Narasimhan
Thank you. Thank you, Richard, and great to be with all of you as every January. I’m excited to give you an overview of where Novartis is this year, where we’re headed, particularly from a pipeline standpoint and hopefully get some great insights and have a good dialogue with Richard.
Now I think as many of you who have followed us know, we’ve had quite a transformation over the last decade. Moving from a really diversified health care conglomerate to a pure-play company, along the way creating really out of one company, four excellent companies, Haleon Consumer Health with GSK; Alcon, a leading medical device company; Sandoz, a leading generics company; and now today 100% focused Novartis. And along that journey, what I think is often lost is the strong underlying performance we’ve had within our Innovative Medicines business.
When you look at it over that period, our Innovative Medicines sales has grown 7%. Our core op. Inc. has grown 14%. Our margin is up 990 basis points on our way to our goal of a 40%-plus core margin. So, we’ve been able to — while making all of these transformations, redesigning our company, continuing to build on
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