raised its full-year earnings outlook, citing strong growth momentum after scoring a trial success for a key breast cancer drug and making progress on boosting production of a radiotherapy drug against prostate cancer.
The Swiss drugmaker said in a statement on Tuesday that when excluding Sandoz, the generic-drug division that will be spun off during the second half of the year, group core operating income would grow by a "high single digit to low double digit" percentage.First-quarter group sales gained 3% to $12.95 billion, above an analyst consensus of $12.55 billion, driven by better than expected revenues from psoriasis and arthritis drug Cosentyx.
Kesimpta, a once-a-month injection against multiple sclerosis, and breast cancer treatment Kisqali also contributed to sales growth, Novartis said.Novartis has struggled with the production ramp-up of Pluvicto against prostate cancer but it said this month that it received approval to add a facility in Millburn, New Jersey, to the sites making the radiotherapy drug.
Providing a confidence boost for the drugmaker's development prowess, the Kisqali breast cancer drug was last month shown to cut the risk of recurrence in women who wereOur Standards:
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