On July 21, Novartis rose 3.58% in pre-market trading, trading at $155.2/share, with turnover of $282,200.

On the news front, Novartis reported Q2 adjusted EPS of $2.41, beating the analyst consensus estimate of $2.13 by approximately 13%. Net sales came in at $14.41 billion, surpassing expectations of roughly $14.0 billion. The strong quarter was driven by robust innovative drug sales, particularly next-generation oncology therapies, which offset the impact of generic competition on its blockbuster heart drug Entresto.

Notably, Novartis had missed Q1 expectations due to U.S. generic drug pressure on Entresto, making this quarter's significant beat a positive signal of returning to a growth trajectory. The company indicated that multiple key clinical data readouts are expected in H2, covering cardiology and multiple sclerosis, including results for Del-desiran, a muscular disease therapy acquired through the $12 billion Avidity Biosciences deal.

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