novartis quarterly results 2022

Tanah Abang. And the receivables are in ruble. Thanks, Seamus. I'll give that one to Harry. The Q1 highlights were really the ex-US, where we had sales growth 32% in constant currency. Of course, it does require you to rethink your business model. I'd love to just kind of get your thoughts there and then the evolution of the market as we see it for an injectable therapy. We expect to have over 90% of children who are diagnosed in newborn screening receiving Zolgensma, that's our goal, and continuing to drive up that newborn screening in the EU above 25%. Thank you very much, everybody, and good morning and good afternoon to all participants. The hotel boasts a fitness centre and meeting facilities. A. Unless otherwise noted, all growth rates in this Release refer to same period in prior year. We are insured and we don't see issues yet. Yes, Peter, thank you. The key assumption for this guidance is that we see continued return to normal global health care systems, including prescribing dynamics and that no Sandostatin LAR generics enter in the US in 2022. Q. Vas, I promise it's my last. Unrelated to operational concerns, but just related to the events accrual rate in the study. Our Innovative Medicines sales grew across both our US and ex US geographies, 3% in the US, 5% ex-US in constant currencies, with growth drivers now accounting for 56% of our IM sales. So that's made a bit worse than what one would expect. When you think about our SG&A, we want to be at the median or better in the sector over time. So Matthew, overall, our cash collections and shipments actually are very normal. But we'll keep you posted if anything were to change. We'll talk more about that. Q. A. And then to have the discipline to say no when assets don't meet those thresholds. Of course, we have some medicines in areas like ophthalmology and respiratory. Neuroscience, given our presence in multiple sclerosis but also emerging assets we have in neuroscience. 3. Thanks, Peter. We're in discussions now to understand the final study design and what the agency would expect. So there is plenty of space here for many agents. Shares of Swiss pharma giant Novartis AG (NVS Quick Quote NVS - Free Report) were down 2.57% after it reported disappointing fourth-quarter results and warned of challenges ahead in the first half . So that's the broad strategy. The property features with swimming pool, restaurant, gym and family room . Under the leadership of Vasant Narasimhan, the Executive Committee of Novartis (ECN) is responsible for overseeing the business operations of Group companies. Kisqali demonstrated delivered 28% growth on the quarter, primarily driven again by ex-US performance. Of course, at the moment, we assume, from a forecasting standpoint, it will remain for the rest of the year. So the absolute numbers are small, it's USD 18 million total OIE impact, which is that 0.6% of margin or 4 points of a 26% improvement. Again, I think a very logical thing to do to increase shareholder returns and value and improve the performance of the company. So just first of all, just a quick follow-up to the first question I asked on NATALEE. Unusually, across the industry, Novartis has built and is building a large cardiovascular presence. Net debt fell for the tenth successive quarter to reach $22.0 billion at the end of the third quarter. And so we'll continue to keep you up to date. Q. So it's a combination of those factors that will drive the growth in the next two years. And the discontinuation rate remains low in the single-digit percentages, which I think demonstrates the overall profile in terms of safety and tolerability of the medicine. There was a 38% reduction in the risk of death in these patients. , the most trusted brand in smart home and small business security, today reported results for the third quarter of 2022. Q. My recollection is that NATALEE readout initially was 2023 but that was moved up to 2022. And of course, solid tumors and hematology. A quick follow-up on Sandoz, please. I'm curious how we should think about buy-and-bill when you're up against it yourself in a competitive environment. Kesimpta really, I think, had a strong quarter. Also good performance in our international, as we call it, emerging markets plus Japan. So when I think about orals or monthly injectables, I don't think it changes our strategy and our belief that in the long run, the ability to provide twice-a-year medicines through the physician buy-and-bill and Part B model in the US and population health around the world is a long-term opportunity to address this relatively vast market opportunity. From a growth standpoint, good sales growth both at the IM and Sandoz and, of course, the overall group level. So again, pleased with the broad-based performance. And I think all of these moves on the first order are creating value for our shareholders. I am wondering what other reasons there could be for the current weakness. So we're pleased with how the medicine has performed thus far. We are highly insured. So can that be back applied to the label for the vision indication and/or can you add it to PSMAfore and PSMAAaddition trials? Show prices. Unless otherwise noted, all growth rates in this Release refer to same period in prior year. Thanks, Graham. That has been worked through in quarter 1. While the US remains steady as we continue to drive up the newborn screening rates. We expect double-digit growth in '22, driven by our China market expansion. And then also, just wondering how to think about that product in 2023 as Humira faces biosimilars and as AbbVie tries to lock in formulary placement for that product for Humira. Next question operator. And of course, in respiratory, we're largely limited to Xolair, with a small presence in QVM inhaled therapeutics. It's on cell therapy. I wonder if you had any comments. And for Sandoz, it's important to note that the very low quarter 1 prior year base with a weak cough and cold season to COVID and the uncertainty related to currency political current geopolitical events. Next question operator. Next question operator. And related to that, I see last week, you pushed back the time lines for your genome-edited stem cell therapy for sickle cell from late '23 to August '25. PostNL reported a third-quarter operating loss of 20 million euros ($19.89 million), swinging from a profit of 20 million euros in the same period last year. Novartis third quarter and nine months 2022 supplementary data. I don't want us to overextend our interpretation of a relatively small clinical study, but at least the early signals are promising. So we don't see really impact, very marginal only. A. An explanation of non-IFRS measures can be found on page 48 of the Condensed Interim Financial Report. So there is a vast market opportunity to displace the older agents, the BRACEs, so to speak, and that is a big opportunity, and that's 60% of our source of business. Browse and download multimedia resources including images, videos, infographics and more. Sanofi surpassed estimates in all of the trailing four quarters, the average being 9.37%. Our expectation is in the rare disease setting, that while there is certainly it is certainly a barrier, to be clear, it is certainly a barrier that we have to overcome, that the current agents are used as infused medicines in the buy-and-bill setting, that in this population it's not a big enough driver of the economics that providing patients an oral option to avoid having to go in and out of the hospital could be highly appreciated, particularly given the opportunity to be front line and be used on top of the infused agents. Third quarter GAAP operating profit grew 4%. So as not too many steps to remove from saying that you might want to think about reprioritizing your Innovative Medicines pipeline. After visiting Grand Indonesia mall I was told to visit Tanah Abang it's more of a local mall with the items a lot cheaper so I thought let's check it out!Ho. On the portfolio optimization, nothing new to announce other than I think it's certainly we are looking as well as part of this transformation how to optimize our commercial footprint as well as our development footprint based on the new model of a single IM unit. A big question there. A. We've already started our T-Charge Phase II study in multiple myeloma and plan to start in Phase III in DLBCL in the second half of the year. We're on track for our hidradenitis suppurativa submission this year, and we do expect CHMP decision on a couple of additional indications later in quarter 2. Q. Just one on the impact of inflation on cost base, following off from Seamus' question. Over 60% are naive or first switch. When you look at the specifics on the growth momentum, we saw steady volume growth in the US and EU. The margin was a low base prior year by basically 330 basis points, call it 3 margin points to close to 22.84%. Readers should not rely upon the information in these pages as current or accurate after their publication dates. Q. And ex-US, there is some limited pricing increases potential, but much less and usually more for Sandoz. Yes. Patient selection is driven by a Gallium PSMA-11 agent to identify patients who would benefit from Pluvicto. Browse and download multimedia resources including images, videos, infographics and more. The US still declined in the single-digit range, but we currently have an outlook that we expect in over the course of '22 and the first part of '23 to really bottom out on the US oral solids business which will then allow us to build on biosimilars and new launches to get back to growth. So do you have any plans to extend the dosing frequency and/or change the dose for Kesimpta in an attempt to really ensure durable share gains? A. And then Skyrizi, their goal is to preserve volume with Humira. The original trial design, I think, only had two interim. We also will, in the medium term, be driven by our ability to get new indications online. So our understanding of competitor life cycle management activities would still involve the patient ultimately coming in to the center and of course then going into the various elements involved with that. Unless otherwise noted, all growth rates in this Release refer to same period in prior year. A. And we also are progressing on track with our Phase III studies in the pre-taxane and hormone sensitive setting and we're also which would expand the patient population 3 to 4x and allow us to target a patient population to enable this to be a multibillion-dollar brand over time. Europe is a very solid footing. Dec 07, 2022 - Berenberg European Conference. We continue to see good interest in Iptacopan around the world as we head towards our first Phase III readout in the second half of this year and we're on track. And now when we look at these forecast versus or look at our actuals versus our forecast, we're currently predicting a 2023 completion of the study. Given the recent pullback in valuations and seemingly tough IPO markets, I wonder, Vas, if you can give us your latest perspective on the environment. Q. Important to note, we still need to do larger studies. Innovative Medicines bottom line grew 5% and core margin reached 35.9%, up slightly from the prior year in constant currencies. Maybe I'll give the China question to Harry. But let's go a bit deeper on the 6 key brands. And then, of course, we will we are looking, of course, to get to less frequent dosing. And we are looking at, of course, the standard patent extension strategy beyond 2029, also currently to continuing to progress in NIBR efforts to develop an oral IL-17 inhibitor as well as other life cycle management strategies, biologic strategies for Cosentyx. So I appreciate you're still early in the early stages for the product. Novartis announced the companys financial results for the third quarter of 2022. And as a reminder, within the divisions, we expect another year of Innovative Medicines sales growing mid-single digit and core operating income to grow mids- to high-single digit ahead of sales. Just looking at the oncology franchise in general, there seems to be a number of destockings in Q1. Your next question comes from the line of Matthew Weston from Credit Suisse. Now moving to the next slide. Media release:English (PDF0.2MB) | Deutsch (PDF0.2MB) | Franais (PDF0.2MB), Novartis ESG Update - April27, 2022 (PDF0.7MB), Reconciliation of 2021 results excluding Roche investment impacts (PDF0.5MB), Download the Novartis organizational structure (PDF0.2MB), Media release (PDF0.3 MB):English | Deutsch | Franais, Novartis ESG Update - February03,2022 (PDF1.7MB), Media release:English (PDF0.3MB) | Deutsch (PDF0.3MB) | Franais (PDF0.3MB), Download the interactive presentation (PDF9.7MB), Novartis ESG Update - October 27, 2021 (PDF0.5MB), Access our interactive slide deck (PDF9.6MB), Novartis ESG Investor Day 2021 6 key takeaways, Media release:English (PDF0.4MB)|Deutsch (PDF0.4MB)|Franais (PDF0.4MB), Download the interactive presentation (PDF4.5MB), Novartis ESG Update - July22, 2021 (PDF1.8MB), Media release:English (PDF0.2MB)|Deutsch (PDF0.2MB)|Franais (PDF0.2MB), Download the interactive presentation (PDF7.2MB), Novartis ESG Update - April 28, 2021 (PDF0.3MB), English (PDF0.2MB)|Deutsch (PDF0.2MB)|Franais (PDF0.2MB), Access our interactive slide deck (PDF 12 MB), Novartis ESG Update - January27, 2021 (PDF0.5MB), Download the Annual Report 2020 (PDF3.5MB), Visit the Novartis Annual Reporting Suite section, January 11, 2021 Thank you, Emily. Q. And in terms of the specifics on the Humira dynamics, et cetera, again, I think that's all built into the forecasted numbers that I gave you right there. Nothing concrete as of yet but certainly high on our mind to get Cosentyx to move into the 2030 alongside continuing to defend the full patent state of Entresto. Novartis announced the company's financial results for the third quarter of 2022. So there could be more activity certainly in the sector second half of the year. When you look at, of course, the pullback in the XBI and I think I've heard various data points but many companies trading below their even the cash they have on hand, I think it certainly points to doing the disciplined look. The annual report for last year shows that you have just under USD 0.5 billion of Russian ruble receivables. A. So the core margin, if you take that little OIE effect out, it's like 22%. I'll go through in a little bit more detail, our JDQ data on the subsequent slide. So a nice demonstration that we continue to replace our sales base with newer and newer products. And so we'll simply reallocate to other markets and we expect to remain on track. We have VAY as well as other assets now progressing through also a priority. But certainly, for the follow-up indications, we're working hard to put together the relevant data package with FDA to hopefully broaden the range of diagnostic agents that can be used. Income tax expense in the 2022 third quarter was $5.8 million, as compared with $4.6 million in the prior-year period. It's on ensovibep. So a longer treatment duration, a lower dose than the metastatic setting to really try to ensure we keep patients on therapy and keep them on therapy longer to drive the efficacy signal. But we have offsetting measures to offset that and be well within our guidance. Then on top of that, I've previously stated that we've increased the thresholds that we're putting in place at an asset level, not necessarily at an indication level. And so at the moment, we believe we can fully mitigate the patients required from those two countries. But one of your key competitors has started a 6-month subcu trial earlier this year and they also have a high-dose trial ongoing. Is that a fair assessment? Yes. Great. And it's about driving more impact of the company on medicine. So in terms of the recruitment, we completed 5,000 patients in April 2021. For a description of some of these factors, please refer to the company's Form 20-F and its most recent quarterly results on Form 6-K that, respectively, were filed with and furnished to the US Securities and Exchange Commission. So I think a solid quarter that we can build on over the course of this year. And then beyond this year, I would say, again, we have many levers of productivity to offset that so that we are also very confident in our mid- to long-term opt margin guidance which we did together with the announcement of transforming growth initiatives. Growth of those growth drivers, up 21% quarter-over-quarter. In the quarter, we successfully completed a futility analysis. So just trying to get a sense for what's driving these measures. Now in terms of impairments, we would have to see, but I don't expect actually impairments on it. Entresto had an outstanding first quarter, growing 42% on the quarter, driven by both US and ex-US performance. An explanation of non-IFRS measures can be found on page 49 of the Condensed Interim Financial Report. Or would this just be for a front line? Q. I don't recall exactly, but I'll look into the point you raised around what we said previously on interim, certainly a very fair challenge. A. Importantly as well, Kesimpta has now demonstrated in Q1 the potential we expect of this brand, to really reach that multibillion-dollar potential with very strong growth in the quarter. A. Your next question comes from the line of Peter Welford from Jefferies. Reorganizing so that we become much more agile, efficient, take out costs out of the system, improve our overall operating performance both on the top and bottom line generate differential growth. An explanation of non-IFRS measures can be found on page35 of the Condensed Interim Financial Report. And we're evaluating additional Phase III studies in the earlier-line setting. So with me today, I have Harry Kirsch, our Chief Financial Officer; and Karen Hale, our Chief Legal Officer. Media release:English (PDF0.2MB) | Deutsch (PDF0.2MB) | Franais (PDF0.2MB), Novartis ESG Update - July 20, 2022 (PDF0.4MB), April 26, 2022 And then how should we think about impairment testing on that quite sizable amount of money? They'll do that through stepped-up rebating. So overall, I would say, given our cost structures, manageable. And with that, I'll hand across to Vas. So should we be thinking about inflationary impacts on costs in H2? Copyright 2022 Surperformance. In summary, it has been a solid start to the year with the strength of our in-market growth drivers, Vas laid out earlier Entresto, Kesimpta, Cosentyx, Zolgensma and Kisqali and our new launches, including Leqvio and Pluvicto, reinforcing our confidence in our midterm growth expectations. So we struck a partnership with Blackstone Life Sciences. Value 4.7. The futility analysis was done at a 40% information fraction. We'll continue to evaluate, and we'll keep you posted. A. A. So first, I think the key benefit of Kesimpta is that the patient doesn't have to go into the center and have to deal with pretreatment with steroids and additional observation. So the key to our strategy is having a medicine that can be the combination agent of choice from a G12C standpoint and then hopefully demonstrate, despite us being late in mono, that we'll be able to win the battle in the long run with combinations, PD-1, SHP2 and perhaps others. Yes. As you have seen, Sandoz has improved. But we certainly are monitoring the space with a keen eye to what is the size of studies and the amount of investment that will be required to differentiate on safety given that NOACs will ultimately go generic in the coming years and that will be the standard that we'd have to go up against. First, we do have, I think, a rigorous approach to prioritizing our pipeline, particularly after proof-of-concept readout, through submission. FY 2022 Earnings Release: 04/25/23 : Q1 2023 Earnings Release (Projected) . Additional information regarding third quarter 2022 results, including the presentation materials management will review during the conference call, will be available on the Investor Relations website prior to the call. Thanks, Florent. So if you start to see any inflection point could be very helpful. View . Readers should not rely upon the information in these pages as current or accurate after their publication dates. And there may be more openness to think about how partnerships and M&A and business development could be conducted. That will mean that by exception we might go after some others when they are strategically have a good strategic fit, but it's certainly our goal to find multibillion-dollar assets. The company also said it was hit by . And as always, my comments refer to growth rates in constant currencies unless otherwise noted. When you look at the data set, we demonstrated a competitive safety and efficacy profile, though, again, with a caveat that this is a small study, 57% ORR at the target dose of 200 milligrams BID. He brings over 20 years of life sciences experience, both on the analytical side of things, but also deep understanding of the science in the US commercial environment. That's certainly something we'll be working on over the course of this year. So on the next slide, we present our results for the quarter. And also, if you look at the margin of Sandoz, obviously, a lot of that was boosted by some of these onetime effects presumably in the easy comp. I mean we remain confident in the USD 7 billion-plus peak sales guidance. As you can see on the next slide, Innovative Medicines sales grew 4%, benefiting from the strong performance of the in-market brands, partly offset by generic erosion, especially in the Oncology portfolio. I'd be interested to understand, how is cash collection today? As I mentioned, over 20-plus multibillion dollar assets to our current assessment. NOVARTIS AG company earnings calendar and analyst expectations - Upcoming and past events | BOERSE MUENCHEN: NOT | BOERSE MUENCHEN . Unless otherwise noted, all growth rates in this Release refer to same period in prior year. Your next question comes from the line of Wimal Kapadia from Bernstein. Next question operator. Thanks. For Novartis, which reports results in dollars, a strong U.S. currency was also a drag on the value of sales generated outside the United States. Unless otherwise noted, all growth rates in this Release refer to same period in prior year. And so we have ample opportunity there to get into the market and be successful. I won't go through the slide in detail. So a lot of, of course, ongoing work, but I think we're on the right track. Yes. And then linked to that, when you formulated your guidance earlier on in the year, do you feel the inflationary pressures you're seeing now are, I mean, is fully accounted for? So Ronny will report to me as he sits on the executive committee. But over time, we hope to expand that, especially as we go into the larger market segments in the coming years. We feel confident in our overall contracting position given the volumes we currently have with Cosentyx and the positions we have with the relevant formularies. We have strong demand growth in Europe for the brand. You've got the initial lichen planus Phase II data, I think, this year. A. Yes. Because it appears that, that won't necessarily be available in international markets. You can imagine that as part of our discussions with the FDA, we put together our best arguments to be as broad as possible on diagnostic options for physicians, but at least for now on this first indication, but we'll be limited to the Gallium agents. But overall, we're pleased that we're off to this solid start on the key brands. We've also endeavored over the recent years to focus down on therapeutic areas that we really believe we can build scale in for the long term. View the 2022 Q1 results presentation and read the transcript slide by slide. If you are unable to join the call via the web, the call can be accessed live at +1 877-283-5145 (U.S. Q. We certainly increased our overall time line. So in terms of Factor XI, we developed a very attractive Factor XI agent that we ultimately determined at the end of Phase II that it would be better to move forward in other people's hands. It's certainly not from cutting R&D and our innovation engine, it's coming from that other part of our P&L and that's how we think about it. EPS (USD) 1.58. #48 of 1,237 hotels in Jakarta. Watch the webcast Thanks, Matthew. Our next phase of data studies or data generation is on track, the STEER study with intrathecal in older children is currently enrolling. As a reminder, we expect Pluvicto in this later-line, third, fourth line prostate metastatic prostate cancer setting to be around USD 0.5 billion to USD 750 million opportunity. 10-Q Quarterly Report 1.4 MB. Of course, we expect these impacts on EPS and core EPS to be offset over time by our ongoing USD 15 billion share buyback program which we expect to conclude in the second half of 2023. Next question operator. Q. Amgen has a mRNA-based technology which is once every 6 months. Just following up from the last question, but staying within the cardiovascular domain. Very attractive profile of all, just a quick follow-up to the combination Those would occur be multibillion-dollar assets assets we have a clean look at the end December. 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