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☆ Jim Cramer shares his thoughts on RTX, Pepsi, Nucor, Novartis and Cadence Design Systems
▼ + stars: | 2024-04-23 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +1 min

RTX : Shares were roughly flat after the aerospace and defense company delivered a quarterly earnings beat and reaffirmed its full-year 2024 outlook for sales, adjusted earnings and free cash flow. He goes out on an absolute high," Jim Cramer said, noting the strength in its Pratt & Whitney division. Nucor : The steelmaker's first-quarter earnings and sales came in lighter than expected, and its current-quarter outlook disappointed, as well. Cramer noted Nucor CEO Leon Topalian is set to appear on "Mad Money" later Tuesday, and he'll be seeking clarity around the impact pricing has had on the company. Cadence Design Systems : The semiconductor design software maker's second-quarter guidance came in light, saying customers are delaying orders due to hardware transition.

Persons: Jim Cramer's, Greg Hayes, Jim Cramer, Cramer, Leon Topalian, he'll, I've, Vas Organizations: CNBC, Club, Pratt & Whitney, PepsiCo, Novartis, Cadence Design Systems Locations: U.S, Swiss

☆ Novartis CEO: Here's why we boosted our full-year guidance
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNovartis CEO: Here's why we boosted our full-year guidanceVas Narasimhan, Novartis CEO, joins 'Money Movers' to discuss what feeds the company's strong guidance, if pricing in the U.S. will involve some friction, and more.

Persons: Vas Organizations: Novartis Locations: U.S

☆ Drugmaker Novartis climbs 4.4% after guidance rise on sales of blockbuster drugs
▼ + stars: | 2024-04-23 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Signage for Novartis AG at a building in the company's headquarters campus in Basel, Switzerland, on Monday, Jan. 8, 2023. Shares of Swiss drugmaker Novartis climbed as much as 4.8% in early deals on Tuesday, after the company raised its full-year guidance following better-than-expected first-quarter results. Novartis' net sales rose 11% in the first three months of the year, while core operating income increased 22% over the same period. Narasimhan said the company continued to advance its drug pipeline in the first quarter, including treatments for prostate cancer and leukemia. "The momentum in our business and pipeline gives us continued confidence in our mid- and long-term growth outlook," he said.

Persons: Vas Narasimhan, Narasimhan Organizations: Novartis AG, Swiss, Novartis Locations: company's, Basel, Switzerland, London

☆ Novartis lifts guidance after first-quarter results beat expectations
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: +2 min

Signage is displayed on the exterior of the Novartis AG Institutes for BioMedical Research building in Cambridge, Massachusetts, U.S., on Friday, Aug. 5, 2016. Swiss drugmaker Novartis on Tuesday raised its full-year guidance after reporting better-than-expected first-quarter results. In a statement, it said 2024 net sales would likely grow by a high-single to low double-digit percentage with adjusted operating income expected to grow by a low double-digit to mid-teens percentage. It has previously predicted that adjusted operating income would increase by a "high single-digit" percentage with "mid single-digit" sales growth. Quarterly adjusted operating income gained 16% to $4.54 billion, beating an average analyst estimate of about $4.3 billion.

Persons: Bristol Myers, Giovanni Caforio, Joerg Reinhardt, Vas Narasimhan, Sandoz Organizations: Novartis, Institutes, Research, Bristol, Bristol Myers Squibb Locations: Cambridge , Massachusetts, U.S

☆ Watch CNBC's full interview with Novartis CEO Vas Narasimhan on earnings and weight loss drugs
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Novartis CEO Vas Narasimhan on earnings and weight loss drugsVas Narasimhan, Novartis CEO, joins 'Money Movers' to discuss what feeds the company's strong guidance, if pricing in the U.S. will involve some friction, and more.

Persons: Vas Organizations: Novartis Locations: U.S

☆ Novartis CEO: Growth drivers performing well, but product exclusivity losses creating headwinds
▼ + stars: | 2024-01-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNovartis CEO: Growth drivers performing well, but product exclusivity losses creating headwindsVas Narasimhan, CEO of Novartis, discusses fourth-quarter results, weight loss drugs and the company's U.S. targets.

Organizations: Novartis Locations: U.S

☆ Novartis misses Q4 net income expectations, extends forecast
▼ + stars: | 2024-01-31 | by ( ) www.cnbc.com time to read: 1 min

Novartis said in August that it plans to spin off its generics unit Sandoz to sharpen its focus on its patented prescription medicines. Swiss drugmaker Novartis reported a 6% gain in fourth-quarter adjusted net income on Wednesday, helped by cost cuts and strong growth of recently launched drugs. Core net income for the quarter came in at $3.13 billion, it said in a statement, missing analysts' estimate of about $3.3 billion, as per LSEG data. Novartis also extended its mid-term guidance, saying it expected sales to grow 5% per year until 2028, when adjusting for currency swings. CEO Vas Narasimhan previously led a push to cut jobs and focus on fewer therapeutic areas and geographic markets, before spinning off and listing generic drugs business Sandoz late last year.

Persons: Sandoz, Vas Narasimhan Organizations: Novartis

☆ Top pharma CEO says preparedness for a new pandemic has not improved
▼ + stars: | 2024-01-17 | by ( Vicky Mckeever | ) www.cnbc.com time to read: 1 min

Vas Narasimhan, chief executive officer of Novartis AG, listens during a panel session on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 22, 2019. Vas Narasimhan, CEO of pharmaceutical firm Novartis, told CNBC Tuesday that he didn't believe there had been much improvement in preparedness for pandemics in the wake of the Covid crisis. "I'm sad to say, I don't think we've improved unfortunately," said Narasimhan, speaking at the World Economic Forum in Davos, Switzerland. He explained that there did not appear to be the continued level of investment as hoped for, during this "inter-pandemic" period. "Now that we're past the pandemic — and really because of the feats of our industry, companies coming up with incredible mRNA vaccines and diagnostic tools — we're back to almost no investment from governments," Narasimhan said.

Persons: Vas, Narasimhan Organizations: Novartis AG, Economic, Novartis, CNBC Locations: Davos, Switzerland

☆ 4 stock ideas I brought back from the JPMorgan Healthcare Conference and everything else I learned about the industry
▼ + stars: | 2024-01-15 | by ( Jim Cramer | ) www.cnbc.com time to read: +12 min

We will go over them – but first, let me talk about what I learned at last week's JPMorgan Health Care Conference that I attended in San Francisco, and what it means to your portfolio. We know health care has a lot of angles too it. The previous CEO Roz Brewer was from Starbucks and struggled with the role that Walgreens plays in health care. You have to be following the transformation of Bristol-Myers, which is opening its wallet to buy a host of drug companies, including anti-psychotic firm Karuna. Health care is the way to go.

Persons: Regeneron, Pfizer, Eli Lilly, Dave Ricks, Lilly, donanemab, Lilly's, Zepbound, it's, Abbott, It's, Roche, Merck, Myers, ABT, Robert Ford, Tim Wentworth, He's, Roz Brewer, Wentworth, he'll, Brewer wasn't, Bob Bradway, Amgen, Vas Narasimhan, Sandoz, Karuna, Medtronic, Hugo, Morgan Stanley, Wells, Covid, Cramer's, Jim Cramer, Jim, Las Vegas Brendan Smialowski Organizations: Abbott Labs, Covid, Novartis, Amgen, Walgreens Boots Alliance, JPMorgan Health Care Conference, Humana, Drug Administration, Novo Nordisk, Dickinson Co, Bristol, Myers Squibb, Pfizer, Department, WBA, Walgreens, Starbucks, -, pharma, Merck, Keytruda, Horizon Therapeutics, Federal Trade Commission, Myers, BD, CVS Health, JPMorgan, Cramer's Charitable, CNBC, Consumer, AFP, Getty Locations: San Francisco, GLP, North Carolina, Europe, Cencora, Amgen, West, Bristol, Target, Las Vegas

☆ Novartis lifts sales growth target to 5% per year through 2027
▼ + stars: | 2023-11-28 | by ( Ludwig Burger | ) www.reuters.com time to read: +1 min

The logo of Swiss drugmaker Novartis is pictured at the company's French headquarters in Rueil-Malmaison near Paris, France, April 22, 2020. REUTERS/Charles Platiau/File Photo Acquire Licensing RightsCompanies Novartis AG FollowSandoz GmbH FollowFRANKFURT, Nov 28 (Reuters) - Novartis (NOVN.S) has dialled up its sales growth target to 5% per year until 2027, citing demand for innovative drugs after it sold off its generic-drugs business. The medium-term target, which excludes any foreign exchange effects, is mainly driven by six drugs, led by Kisqali, it said in a presentation on Tuesday. The sales forecast, up from a previous revenue growth target of 4% through 2027, is also underpinned by demand for Pluvicto, a precision radiotherapy against prostate cancer, and self-administered multiple sclerosis (MS) shot Kesimpta. Reporting by Ludwig Burger; Editing by Miranda Murray and Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: Charles Platiau, Kisqali, Vas, Kesimpta, drugmaker, Sandoz, Ludwig Burger, Miranda Murray, Miral Organizations: Swiss, Novartis, REUTERS, Companies Novartis, Sandoz, FRANKFURT, Thomson Locations: Rueil, Malmaison, Paris, France, Basel, Swiss

☆ Novartis' Sandoz valued at $11.2 bln in market debut
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +1 min

A sign marks the Novartis Institutes for BioMedical Research facility in Cambridge, Massachusetts, U.S., June 16, 2021. REUTERS/Brian Snyder/File Photo Acquire Licensing RightsOct 4 (Reuters) - Sandoz (SDZ.S) made its market debut with a lower-than-expected valuation of 10.3 billion Swiss francs ($11.2 billion) on Wednesday, after the generic and biosimilar drugmaker was spun off from Swiss pharmaceutical company Novartis (NOVN.S). Deutsche Bank had said Sandoz, which accounted for 11% of Novartis' group operating profit in 2022, would likely be valued at $11-$13 billion, while brokerage Berenberg had forecast $17-$26 billion. The shares, which opened at 24 Swiss francs, became members of the Swiss Performance Index and the Swiss Leader Index, among other stock market gauges, and American depositary receipts also started trading on Wednesday. Novartis shareholders received one Sandoz share for every five Novartis shares they held as part of the transaction.

Persons: Brian Snyder, drugmaker, Sandoz, Berenberg, Vas Narasimhan, Ludwig Burger, Tristan Veyet, Clarence Fernandez, Mark Potter Organizations: Novartis, Research, REUTERS, Sandoz, Analysts, Deutsche Bank, Swiss, Thomson Locations: Cambridge , Massachusetts, U.S, Swiss, generics

☆ Novartis CEO: Spinoffs will see us succeed as a pure-play innovative medicines company
▼ + stars: | 2023-10-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNovartis CEO: Spinoffs will see us succeed as a pure-play innovative medicines companyNovartis CEO Vas Narasimhan discusses what the spinoff of the company's Sandoz unit means for the organization.

Persons: Vas, Sandoz Organizations: Novartis

☆ Novartis CEO: Company set to become a pure play, innovative medicine business after Sandoz spin off
▼ + stars: | 2023-10-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNovartis CEO: Company set to become a pure play, innovative medicine business after Sandoz spin offVas Narasimhan, CEO at Novartis, discusses the company's 100% spin off of Sandoz, its generic and biosimilar medicines business, and what the deal means for shareholders.

Organizations: Novartis, Sandoz Locations: Sandoz

☆ Novartis positioning is now best-suited for long-term gains and returns after spin-off, says CEO
▼ + stars: | 2023-10-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNovartis positioning is now best-suited for long-term gains and returns after spin-off, says CEONovartis CEO Vas Narasimhan joins 'Squawk on the Street' to discuss the company's new spin-off Sandoz, what a pure-play core pharmaceutical company means, and the idea of M&A to boost the company's growth prospects.

Persons: Vas Narasimhan, Sandoz Organizations: Novartis

☆ Watch CNBC's full interview with Novartis CEO Vas Narasimhan
▼ + stars: | 2023-10-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Novartis CEO Vas NarasimhanNovartis CEO Vas Narasimhan joins 'Squawk on the Street' to discuss the company's new spin-off Sandoz, what a pure-play core pharmaceutical company means, and the idea of M&A to boost the company's growth prospects.

Persons: Vas Narasimhan, Sandoz Organizations: Novartis

☆ Novartis plans Sandoz spin-off around Oct. 4, proposes share
▼ + stars: | 2023-08-18 | by ( ) www.cnbc.com time to read: +1 min

Novartis on Friday proposed to offer shareholders one Sandoz share for every five Novartis shares as it said it planned to spin off the generic medicines division on or around Oct. 4. The Swiss drugmaker invited shareholders to an extraordinary general meeting on Sept. 15 after its board of directors unanimously endorsed and recommended the proposed spin-off, the company said in a statement. "If Novartis shareholders approve the proposed special distribution at the EGM, the Spin-off will be implemented through the distribution of a dividend-in-kind of Sandoz shares to Novartis shareholders, and of Sandoz ADRs (American Depositary Receipts) to Novartis ADR holders," it said. Sandoz, which accounted for about 10% of group core operating profit of $16.7 billion in 2022, was put under a strategic review by Novartis CEO Vas Narasimhan in 2021 following mounting pricing pressures in the U.S. off-patent drug sector. Novartis announced plans for the spin-off in August 2022.

Persons: Sandoz, Vas Organizations: Novartis, EGM, Sandoz, Sandoz ADRs Locations: Swiss, U.S

☆ Novartis CEO: We expect our six key drugs to grow ahead of analyst expectations
▼ + stars: | 2023-07-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNovartis CEO: We expect our six key drugs to grow ahead of analyst expectationsNovartis CEO Vas Narasimhan joins 'Squawk on the Street' to discuss what's driving the company's earnings beats, the company's newest technologies, and the 'war for talent.'

Persons: Vas Narasimhan Organizations: Novartis

☆ Novartis buys Chinook for $3.5 bln in race to treat rare kidney disease
▼ + stars: | 2023-06-12 | by ( Ludwig Burger | ) www.reuters.com time to read: +3 min

June 12 (Reuters) - Novartis (NOVN.S) said it has agreed to acquire U.S. biotech firm Chinook Therapeutics (KDNY.O) for up to $3.5 billion to boost its late-stage drug development line-up, raising the stakes in the race for a rare kidney disease treatment. The other drug hopeful is iptacopan, which is being trialled against a number of rare genetic disorders, including IgAN and another kidney disease. IgAN is a progressive autoimmune disease that mostly affects young adults and which can lead to kidney failure that requires dialysis or organ transplantation. IgAN is the most common cause of kidney failure in Caucasian young adults, Novartis added. Additional reporting by Miranda Murray; Editing by Kim Coghill, Sonali Paul and Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

Persons: Novartis, Vas Narasimhan, Narasimham, atrasentan, Narasimhan, Kisqali, Roche, Vera, Muddy Waters, Miranda Murray, Kim Coghill, Sonali Paul, Alexander Smith Organizations: Novartis, Chinook Therapeutics, Vera Therapeutics, Sandoz, Chinook, Thomson Locations: Seattle, United States

☆ Novartis to buy Chinook for up to $3.5 bln in boost to late-stage pipeline
▼ + stars: | 2023-06-12 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

June 12 (Reuters) - Novartis (NOVN.S) has agreed to acquire Seattle-based biotech firm Chinook Therapeutics (KDNY.O) for up to $3.5 billion to boost its late-stage drug development line-up with a new treatment for a rare severe kidney disease. Chinook is also working on zigakibart, another experimental IgAN treatment that is injected, and plans to start a Phase 3 trial in the third quarter of 2023. IgAN is a progressive autoimmune disease that mostly affects young adults and which can lead to dialysis or kidney transplantation. IgAN is the most common cause of kidney failure in Caucasian young adults, the company added. Additional reporting by Miranda Murray; Editing by Kim Coghill and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Swiss drugmaker, Vas Narasimhan, atrasentan, Narasimhan, Kisqali, Soliris, Miranda Murray, Kim Coghill, Sonali Paul Organizations: Novartis, Seattle, Chinook Therapeutics, Chinook, Swiss pharma, Sandoz, Thomson Locations: Swiss, IgAN, United States

☆ Novartis drug cuts recurrence risk by 25% in early-stage breast cancer
▼ + stars: | 2023-06-02 | by ( Ludwig Burger | ) www.reuters.com time to read: +3 min

The company on Friday said the relative risk reduction of cancer recurrence was 25.2% and that the results were broadly consistent regardless of patients' menopausal status or cancer progression status. Kisqali has been approved to treat hormone-driven breast cancer that has spread to other parts of the body, where Novartis has taken market share from Pfizer's (PFE.N) Ibrance. But that is in a subset of women who are at high risk of recurrence after surgery, typically diagnosed based on signs of cancer in the lymph nodes. Here, Novartis will face tough competition because the U.S. drugmaker has said Verzenio reduces the risk of recurrence by 35% in that group. Novartis will request approval for wider use in the U.S. and Europe before the end of the year, it added.

Persons: Kisqali, Eli Lilly, Verzenio, drugmaker, Eli Lilly's Verzenio, Jeff Legos, Vas, Ludwig Burger, Sriraj Organizations: Novartis, American Society of Clinical Oncology, Oncology, Hematology, Thomson Locations: FRANKFURT, Chicago, U.S, Europe

☆ Novartis CEO Vas Narasimhan on the latest research on a breast cancer drug
▼ + stars: | 2023-06-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNovartis CEO Vas Narasimhan on the latest research on a breast cancer drugNovartis CEO Vas Narasimhan joins 'Squawk on the Street' to discuss the latest research that finds Kisqali - a breast cancer drug made by the company - lowers the risk of recurrence by 25%.

Persons: Vas, Vas Narasimhan Organizations: Novartis

☆ Novartis CEO: Confident about continued sales growth for rest of year
▼ + stars: | 2023-04-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNovartis CEO: Confident about continued sales growth for rest of yearVas Narasimhan, CEO of Novartis, discusses the company's margin and sales growth, and expansion plans, as the pharmaceutical giant beats first-quarter expectations.

☆ Novartis buoyed by trial success in early-stage breast cancer
▼ + stars: | 2023-03-27 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

The Swiss firm's shares jumped 5.8% on Monday to a four-week high by 0734 GMT, after it said a panel of independent supervisors recommended stopping the trial early because an interim analysis had shown a clear benefit. Kisqali has been approved to treat hormone-driven breast cancer that has spread to other body parts, where it has taken market share from Pfizer's (PFE.N) Ibrance. Rival drug Verzenio by Eli Lilly (LLY.N) has approval in the early setting for women at high risk of recurrence after surgery. Kisqali, which saw sales gain 31% to $1.2 billion last year, is one of two new drugs with a particularly important role for the group's future sales growth. Detailed trial results will be presented at a medical conference, Novartis said, without identifying the meeting or its timing.

☆ Novartis initiates new trading line for share buybacks
▼ + stars: | 2023-03-13 | by ( Ludwig Burger | ) www.reuters.com time to read: +1 min

March 13 (Reuters) - Novartis said on Monday it received regulatory clearance to open a separate trading line for potentially up to 16.5 billion Swiss francs ($18.1 billion) in stock repurchases even as its ongoing $15 billion buyback programme is close to completion. At last week's annual shareholder meeting, the company won investor authorization for up to 10 billion francs in buybacks, which comes on top of 6.5 billion francs in prior authorizations. A company spokesperson told Reuters on Monday that the "majority" of its ongoing $15 billion buyback programme was already completed, adding that any repurchases would be decided by the board of directors. Novartis laid out plans for the $15 billion programme in late 2021, after receiving $20.7 billion for the sale of its nearly one-third voting stake in Roche (ROG.S) back to its cross-town rival. ($1 = 0.9118 Swiss francs)Reporting by Ludwig Burger in Frankfurt and John Revill in Zurich Editing by Paul Carrel and Christina FincherOur Standards: The Thomson Reuters Trust Principles.

☆ Novartis CEO: Expect continued growth in 2023
▼ + stars: | 2023-02-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNovartis CEO: Expect continued growth in 2023Novartis CEO Vas Narasimhan outlines his outlook for 2023 as the pharmaceutical giant plans new launches with an eye on the reopening of China's economy and the Inflation Reduction Act in the U.S.

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