Novartis AG Q1 2026 Financial Report

Novartis reported a 5% decline in net sales to USD 13.1 billion in Q1 2026, primarily due to US generic erosion, despite strong growth in priority brands like Kisqali (+55% cc) and Pluvicto (+70% cc). Core operating income decreased by 14% to USD 4.9 billion, with a margin of 37.3%. Net income fell by 13% to USD 3.2 billion. Free cash flow was USD 3.3 billion. The company reaffirmed its full-year 2026 guidance, expecting low single-digit net sales growth and a low single-digit decline in core operating income. Key R&D developments include positive opinions and submissions for several pipeline drugs, and the acquisition of Avidity Biosciences to strengthen its neuroscience portfolio. The company also entered into agreements to acquire Synnovation Therapeutics and Excellergy, further expanding its therapeutic reach.