Novartis

Novartis AG (NYSE: NVS) is a Swiss multinational pharmaceutical company. In 1996, the Swiss pharmaceutical companies Ciba-Geigy and Sandoz merged to form Novartis, considered the largest ever corporate merger at the time. The company has been listed on the NYSE since 2000. The company generated revenue of USD 50.5 billion in 2022 and was the fifth-largest pharmaceutical manufacturer in the world by revenue.

Novartis operates under two business segments. The Innovative Medicines division researches, develops, manufactures, distributes, and sells patented pharmaceuticals. The segment focuses on core therapeutic areas—cardiovascular, immunology, neuroscience, solid tumor, and hematology—as well as other promoted and established brands. The Sandoz division develops, manufactures, and markets generic pharmaceuticals and biosimilars. Sandoz is organized globally into three franchises, namely Retail Generics, Anti-infectives, and Biopharmaceuticals. In September 2023, Novartis shareholders approved a 100% spin-off of Sandoz; the transaction is expected to be completed in 2H 2023.

Novartis products are sold in ~140 countries. The US was Novartis’ largest market, accounting for ~43% of total revenue in 2022, followed by Europe (~37%). Novartis’ strategic plan for 2023–2027 includes accelerating sales growth to 4% while maintaining an operating income margin of low-40%. The company is also committed to achieving net-zero status by 2040.