2024 Revenues ($USD) : $50.32B

Novartis AG (NYSE: NVS), headquartered in Basel, Switzerland, demonstrated strong operational performance throughout its 2024 fiscal year, reporting net sales of $50.32 billion. This figure represented a robust 12% increase year-over-year on a constant currency (cc) basis compared to $45.44 billion in 2023. The company's growth trajectory was evident through the year, with a reported Q3 sales climb of 10% (cc) and a core operating income surge of 20% (cc) in the same quarter, driving the core operating margin to 40.1% (cc). At year-end, Novartis employed approximately 75,883 people and held total assets of $102.25 billion.

Investment in R&D remained a priority, with spending reaching $10.02 billion, equivalent to 19.9% of net sales, a decrease from the 25.0% ratio seen in 2023, reflecting portfolio shifts and efficiency gains.

Underpinning the financial momentum is a series of key regulatory and clinical milestones, showcasing pipeline execution:

In April 2025, the FDA granted accelerated approval to Vanrafia (atrasentan), the first selective endothelin A receptor antagonist sanctioned for reducing proteinuria in adults with primary IgA nephropathy (IgAN), addressing a clear unmet need in this population.

Further bolstering its portfolio, Novartis secured notable FDA approvals in March 2025. The radioligand therapy Pluvicto received an expanded indication, allowing its use before taxane-based chemotherapy in eligible patients with PSMA-positive metastatic castration-resistant prostate cancer (mCRPC). Concurrently, Fabhalta (iptacopan) achieved a landmark approval as the first treatment indicated for C3 glomerulopathy (C3G), a rare and severe kidney disease. This followed Fabhalta's earlier accelerated approval for IgAN, highlighting the compound's potential across complement-mediated diseases.

Beyond approvals, Novartis also reported progress in its gene therapy program, sharing positive Phase 3 data for the intrathecal administration of onasemnogene abeparvovec (Zolgensma) aimed at treating older patients with spinal muscular atrophy (SMA).

Looking ahead, Novartis guided for fiscal year 2025 net sales growth in the mid-single-digit percentage range (cc) and core operating income growth in the high-single-digit percentage range (cc).