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novartis-investor-presentation-jpm-2026-growth-story.pdf

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1、Novartis growth storyVas Narasimhan,CEOJ.P.Morgan Healthcare ConferenceJanuary 12,2026DisclaimerNovartis growth story|January 12,20262Cautionary Statement Regarding Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the United States Private Securi

2、ties Litigation Reform Act of 1995,that can generally be identified by words such as“anticipate,”“can,”“will,”“continue,”“ongoing,”“growth,”“launch,”“expect,”“expand,”“deliver,”“accelerate,”“guidance,”“outlook,”“priority,”“potential,”“momentum,”“commitment,”“on track,”or similar expressions,or by ex

3、press or implied discussions regarding potential new products,potential new indications for existing products,potential product launches,or regarding potential future revenues from any such products;or regarding results of ongoing clinical trials;or regarding potential future,pending or announced tr

4、ansactions;regarding potential future sales or earnings;or by discussions of strategy,plans,expectations or intentions,including discussions regarding our continued investment into new R&D capabilities and manufacturing;or regarding our capital structure.Such forward-looking statements are based on

5、the current beliefs and expectations of management regarding future events and are subject to significant known and unknown risks and uncertainties.Should one or more of these risks or uncertainties materialize,or should underlying assumptions prove incorrect,actual results may vary materially from

6、those set forth in the forward-looking statements.You should not place undue reliance on these statements.There can be no guarantee that the investigational or approved products described in this presentation will be submitted or approved for sale or for any additional indications or labeling in any

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1. **业绩增长**:2019-2024年销售额CAGR达7%(按不变货币计算),核心运营利润率提升至32.3%,自由现金流强劲(2024年达163亿美元)。 2. **战略聚焦**:四大核心治疗领域(心血管-肾-代谢、免疫学、神经科学、肿瘤学)及三大技术平台(化学、生物制剂、xRNA等),优先布局美、中、德、日市场。 3. **管线与产品**:19款在售品牌具十亿美元峰值潜力,30+高价值临床前/在研新分子实体(NME),未来2年有15+潜在提交数据读出。 4. **资本配置**:2025年股息78亿美元,股票回购150亿美元(新设100亿美元回购计划),拟收购Avidity Biosciences(2026年上半年完成)。 5. **ESG与突破**:全球ESG领先,2025年推出抗疟疾新药Coartem Baby及KLU156。
诺华增长动力? 核心疗法布局? 研发管线亮点?
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