0734 GMT - Novartis's 2025 guidance signals a slowdown in the growth outlook as patent expiries begin and pipeline catalysts are lacking, Berenberg analyst Kerry Holford says in a note. "In our view, Novartis is fully valued, pricing in a positive pipeline regeneration gap, which we struggle to support given its poor historical returns on R&D investment," she says. The Swiss pharma company will release a late-stage trial of its treatment for Sjogren's syndrome in the second half of the year, Holford says. However, more significant results are expected next year, such as the late-stage trial of cardiovascular disease prevention pelacarsen and thrombosis treatment abelacimab, the analyst says. (helena.smolak@wsj.com)
(END) Dow Jones Newswires
March 17, 2025 03:34 ET (07:34 GMT)
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