Novartis (NVS) increases its sales guidance for the mid-term (2022-2027) and outlines its growth strategy as a pure-play pharmaceutical company.
It is tempting to celebrate big milestones. Novartis chief Vas Narasimhan can be forgiven for doing so. His focus is on higher-margin, innovative drugs. The Swiss group is a cleaner proposition after spinning off its generics business Sandoz in October.
Eli Lilly (LLY), Novo Nordisk (NVO) and Novartis (NVS) have outperformed the industry this year.