0702 GMT - Novartis reported impressive results, extending a stretch of quarterly updates in which it beat expectations and raised guidance to a tenth quarter, Vontobel's Stefan Schneider says. The Swiss pharmaceutical company reported second-quarter core operating profit of $5.925 billion, up 21% at constant currency. This exceeded both consensus expectations and Vontobel's estimate, the analyst says in a research note. Novartis now expects core operating profit to grow by a low-teens percentage this year, having previously forecast an increase by low double digits. This guidance lift came as a surprise ahead of the anticipated arrival of generic competition for Novartis's heart drug Entresto--the group's best-selling medicine--in the U.S., Schneider says. Novartis shares closed at 95.12 Swiss francs on Wednesday. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
July 17, 2025 03:02 ET (07:02 GMT)
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