Novartis AG ADR

Novartis opened 2025 with a notably strong first quarter, posting core earnings per share of $2.28 against a consensus estimate of $2.17, a beat of 4.95%, while revenue of $13.23 billion topped expectations by 1.40% and rose 9.2% year over year. The Swiss drugmaker's results were powered by broad-based volume growth across its key brands, with five franchise products collectively driving the quarter's momentum. Kisqali stood out as the sharpest accelerant, with the breast cancer therapy generating $956 million in sales, up 52% year over year, including an 87% surge in the US market following its early breast cancer indication launch. Operating income climbed 38% to $4.66 billion, expanding the operating margin to 35.2% from 28.5% a year earlier, a reflection of operating leverage across cost and spending lines. Free cash flow improved 66% to $3.39 billion, underscoring the company's strong cash conversion even as net debt rose to $22.30 billion amid significant capital returns to shareholders.