Novartis Lifts Outlook After Shedding Sandoz Generics
- Core operating profit will likely grow in mid- to high-teens
- New medicines Zolgensma and Pluvicto fall short of estimates
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Novartis AG raised its profit forecast for a third time as investors look beyond this year for clues to the Swiss drugmaker’s future after the spinoff of its Sandoz generics business.
Operating profit excluding some items will likely grow by a mid- to high-teens percentage this year, the company said on Tuesday. Sales of Zolgensma, a gene therapy, and Pluvicto, a new medicine for prostate cancer, fell short of expectations last quarter.