Novartis Q3 Performance: New Drugs Drive Growth Amid Generic Competition
Novartis' Q3 performance was fueled by fast growth from recently label-expanded drugs, despite headwinds from generic competition affecting established blockbusters.
Net sales for the Swiss big pharma company rose 7% in constant currencies to $13.9bn in Q3, approximately in line with Wall Street forecasts. Core operating income reached $5.46bn in the quarter, just slightly above consensus analyst predictions of $5.4bn.
Key Drivers of Growth
- Drugs from Novartis' oncology segment spurred much of the growth.
- Breast cancer treatment Kisqali (ribociclib) grew by 68% in Q3 2025 compared to Q3 2024.
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Author's summary: Novartis' Q3 growth driven by new drugs despite generic competition.