Net sales declined 1% USD (5% cc) to $13.1 billion, impacted by US generic erosion offsetting growth in priority brands13
Core EPS declined 13% USD (15% cc) to $1.99, missing analyst forecast of $2.1012
Strong growth in priority brands:
Kisqali +55% cc ($1.5B), Pluvicto +70% cc, Scemblix +79% cc ($433M), Kesimpta +26% cc, Leqvio +69% cc1
Core operating income down 12% USD (14% cc) to $4.9 billion, margin at 37.3%1
Key milestones:
Remibrutinib positive CHMP for CSU, Ianalumab FDA Breakthrough for SjD, Cosentyx FDA approval for pediatric HS, Fabhalta Phase III success in IgAN, Avidity acquisition1
FY 2026 guidance reaffirmed:
low single-digit net sales growth, low single-digit core operating income decline1
CEO Vas Narasimhan noted strong start in priority brands despite expected US generic pressures1
Sources:
1. https://www.novartis.com/news/media-releases/novartis-delivered-strong-growth-priority-brands-and-launches-q1-fy-2026-guidance-reaffirmed
2. https://www.investing.com/news/transcripts/earnings-call-transcript-novartis-q1-2026-earnings-miss-forecasts-stock-dips-93CH-4641741
3. https://www.investing.com/news/earnings/novartis-q1-profit-misses-expectations-as-sales-fall-on-generic-headwinds-4640274