olivLaw · US equity research
Novartis AG NVS
Pharmaceutical Preparations · SIC 2834 · Vertical: Pharmaceutical Preparations (SIC 2834)
Novartis is an innovative pharmaceutical company focused on cardiovascular, renal and metabolic, immunology, neuroscience and oncology. In 2025 net sales from continuing operations grew 8%, driven by newer medicines such as Kisqali and Kesimpta, amid pricing pressure and trade tensions. The US is a major share of revenue, with sales of USD 23.3 billion, against total net sales of USD 54.5 billion.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Novartis AG (NVS) stock was 164.98 USD (+3.59% on the day), with market capitalisation 314.8 bn USD, P/E 23.1 on diluted EPS of 7.15 USD over the last 12 months, beta 0.25, 52-week range 124.36–168.62 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 70.5
- overbought (≥ 70)
- Bollinger (20, 2)
- 139.92 – 166.14
- in the upper half of the band · %B 0.96 · band width 17.1%
- SMA 50 / 200
- 148.58 / 152.08
- mixed trend
- MACD (12, 26, 9)
- 4.28 / 3.14
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +17.1% | −1.1% | +18.2 pp | — |
| 3 months | +6.8% | −0.5% | +7.3 pp | — |
| 6 months | +11.2% | +4.4% | +6.8 pp | — |
| Year to date | +19.7% | +12.3% | +7.3 pp | — |
| 1 year | +32.0% | +13.5% | +18.4 pp | −9.2% |
| 3 years | +77.9% | +76.4% | +1.4 pp | +50.7% |
| 5 years | +97.2% | +63.7% | +33.6 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 60 percentile of its own 10-quarter history (min 8.2, median 19.0, max 28.6; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Revenue YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Net income | 12.6 bn | 11.7 bn | 8.1 bn | 24.0 bn | 7.0 bn | 14.9 bn | 11.9 bn | 14.0 bn |
| Net income YoY | +63.7% | −7.0% | −31.2% | +197.6% | −71.0% | +113.5% | −19.6% | +17.1% |
| Diluted EPS | 5.38 | 5.06 | 3.52 | 10.63 | 3.17 | 7.10 | 5.87 | 7.15 |
| Diluted EPS YoY | +65.5% | −5.9% | −30.4% | +202.0% | −70.2% | +124.0% | −17.3% | +21.8% |
| net % | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Free cash flow | 13.0 bn | 12.2 bn | 12.4 bn | 14.0 bn | 13.3 bn | 13.4 bn | 16.3 bn | 17.6 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 11.4 bn USD
- Financial debt
- 682.0 m USD
- Net debt
- -10.8 bn USD
- Equity
- 46.5 bn USD
- Total assets
- 110.9 bn USD
- Debt / equity
- 0.01x
- Current ratio
- 1.12x
- ROE
- 30.8%
- ROA
- 13.1%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cost of revenue | 15.1 bn | 11.7 bn | 11.6 bn | 12.5 bn | 12.8 bn | 13.7 bn | SEC (XBRL)· 04 Feb 2026verified |
| Gross profit | 34.8 bn | 32.2 bn | 31.9 bn | 34.2 bn | 38.9 bn | 43.0 bn | SEC (XBRL)· 04 Feb 2026verified |
| Research & development | 9.0 bn | 8.6 bn | 9.2 bn | 11.4 bn | 10.0 bn | 11.2 bn | SEC (XBRL)· 04 Feb 2026verified |
| Operating income | 10.2 bn | 10.1 bn | 7.9 bn | 9.8 bn | 14.5 bn | 17.6 bn | SEC (XBRL)· 04 Feb 2026verified |
| Pre-tax income | 9.9 bn | 24.5 bn | 7.2 bn | 9.1 bn | 13.6 bn | 16.4 bn | SEC (XBRL)· 04 Feb 2026verified |
| Income tax | 1.8 bn | 1.6 bn | 1.1 bn | 551.0 m | 1.7 bn | 2.4 bn | SEC (XBRL)· 04 Feb 2026verified |
| Net income | 8.1 bn | 24.0 bn | 7.0 bn | 14.9 bn | 11.9 bn | 14.0 bn | SEC (XBRL)· 04 Feb 2026verified |
| Diluted EPS | 3.52 | 10.63 | 3.17 | 7.10 | 5.87 | 7.15 | SEC (XBRL)· 04 Feb 2026verified |
| Weighted average diluted shares | 2.3 bn | 2.3 bn | 2.2 bn | 2.1 bn | 2.0 bn | 2.0 bn | SEC (XBRL)· 04 Feb 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 9.7 bn | 12.4 bn | 7.5 bn | 13.4 bn | 11.5 bn | 11.4 bn | SEC (XBRL)· 04 Feb 2026verified |
| Inventories | 7.1 bn | 6.7 bn | 7.2 bn | 5.9 bn | 5.7 bn | 6.3 bn | SEC (XBRL)· 04 Feb 2026verified |
| Current assets | 29.7 bn | 45.7 bn | 36.9 bn | 30.5 bn | 29.7 bn | 30.5 bn | SEC (XBRL)· 04 Feb 2026verified |
| Property, plant & equipment, net | 12.3 bn | 11.5 bn | 10.8 bn | 9.5 bn | 9.5 bn | 10.8 bn | SEC (XBRL)· 04 Feb 2026verified |
| Goodwill | 30.0 bn | 29.6 bn | 29.3 bn | 23.3 bn | 24.8 bn | 25.6 bn | SEC (XBRL)· 04 Feb 2026verified |
| Intangibles (excl. goodwill) | 36.8 bn | 34.2 bn | 31.6 bn | 26.9 bn | 26.9 bn | 29.4 bn | SEC (XBRL)· 04 Feb 2026verified |
| Total assets | 127.8 bn | 131.8 bn | 117.5 bn | 99.9 bn | 102.2 bn | 110.9 bn | SEC (XBRL)· 04 Feb 2026verified |
| Short-term debt | 976.0 m | 899.0 m | 863.0 m | 624.0 m | 642.0 m | 682.0 m | SEC (XBRL)· 04 Feb 2026verified |
| Current liabilities | 33.1 bn | 30.2 bn | 28.7 bn | 26.4 bn | 28.7 bn | 27.3 bn | SEC (XBRL)· 04 Feb 2026verified |
| Total liabilities | 71.1 bn | 64.0 bn | 58.0 bn | 53.2 bn | 58.1 bn | 64.4 bn | SEC (XBRL)· 04 Feb 2026verified |
| Equity | 56.7 bn | 67.8 bn | 59.4 bn | 46.8 bn | 44.1 bn | 46.5 bn | SEC (XBRL)· 04 Feb 2026verified |
| Shares outstanding at year end | 2.3 bn | 2.2 bn | 2.1 bn | 2.0 bn | 2.0 bn | 1.9 bn | SEC (XBRL)· 04 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 13.7 bn | 15.1 bn | 14.2 bn | 14.5 bn | 17.6 bn | 19.1 bn | SEC (XBRL)· 04 Feb 2026verified |
| Capex | 1.3 bn | 1.1 bn | 916.0 m | 1.1 bn | 1.4 bn | 1.5 bn | SEC (XBRL)· 04 Feb 2026verified |
| Free cash flow | 12.4 bn ≈ | 14.0 bn ≈ | 13.3 bn ≈ | 13.4 bn ≈ | 16.3 bn ≈ | 17.6 bn ≈ | SEC (XBRL)· 04 Feb 2026derived |
| Investing cash flow | -13.2 bn | 4.2 bn | 1.5 bn | 5.6 bn | -7.5 bn | -4.9 bn | SEC (XBRL)· 04 Feb 2026verified |
| Financing cash flow | -2.2 bn | -16.3 bn | -20.6 bn | -14.3 bn | -11.7 bn | -14.9 bn | SEC (XBRL)· 04 Feb 2026verified |
| Share repurchases | 2.8 bn | 3.1 bn | 10.7 bn | 8.7 bn | 8.3 bn | 9.2 bn | SEC (XBRL)· 04 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 54.2% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 314.8 bn USD
Key indicators
Coverage and freshness
Score by group
54% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 106.87 – 312.02 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E106.87 – 312.02 (Mid 208.40)14 companies used · median multiple 29.1x · quartiles 14.9x – 43.6xABBV, ABT, ALNY, AUPH, BMY, JNJ, LLY, NATR, PFE, REGN, RPRX, UTHR, VRTX, ZTS
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 54.2% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 43.6% | 89 (vs peers) | 19% |
| Net margin · Quality | unavailable | unavailable | — |
| FCF conversion · Quality | 125.8% | 100 (on a fixed band) | 12% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | 31.1% | 100 (on a fixed band) | 15% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.1x | 26 (on a fixed band) | 8% |
| P/E (TTM) · Valuation | 23.1x | 59 (vs peers) | 19% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 5.6% | 70 (on a fixed band) | 15% |
| Shareholder yield (distributions) · Returns | 2.9% | 42 (on a fixed band) | 12% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial26/100 · 1/3 factors with a value
- Growth· partial100/100 · 1/2 factors with a value
- Quality93/100 · 2/3 factors with a value
- Returns· partial42/100 · 1/2 factors with a value
- Valuation64/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Novartis AG (NVS). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: ROE 31.0%.
The estimated value range is 106.87–312.02 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 208.40 USD, the price of 164.98 USD leaves a potential of 26.3% (value / price − 1) and a margin of safety of 20.8% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 54.2% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 43.6%
- FCF conversion: 125.8%
- EPS CAGR 3Y: 31.1%
What contradicts it
- Current ratio: 1.1x
Not assessed (insufficient data or a ratio without meaning): Net margin, Revenue CAGR 3Y, Net debt / EBITDA, Interest coverage, EV/EBITDA, Payout ratio (FCF).
Versus the vertical median
Pharmaceutical Preparations (SIC 2834) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| LLYEli Lilly And Company | 1,334.0 bn | 46.0 | 86.1% | 31.9% | +44.7% | +32% / +140% |
| JNJJohnson & Johnson | 665.2 bn | 41.9 | 20.0% | 16.2% | +6.0% | +34% / +79% |
| ONCBeone Medicines Ltd. | 558.4 bn | 869.9 | 14.7% | 10.7% | +40.2% | +11% / +102% |
| ABBVAbbVie Inc. | 521.1 bn | 50.7 | — | 15.7% | +8.6% | +29% / +107% |
| MRKMerck & Co., Inc. | 370.7 bn | 154.7 | 5.1% | 3.6% | +1.3% | +43% / +47% |
| NVSNovartis AG | 314.8 bn | 23.1 | 31.0% | — | unavailable | +32% / +78% |
| ABTAbbott Laboratories | 200.1 bn | 43.0 | 9.2% | 9.7% | +5.7% | −10% / +11% |
| PFEPfizer Inc | 175.5 bn | 43.9 | 4.4% | 6.3% | −1.6% | +20% / +1% |
| VRTXVertex Pharmaceuticals Inc | 139.2 bn | 35.3 | 20.8% | 30.7% | +8.9% | +27% / +55% |
| BMYBristol-Myers Squibb Company | 131.2 bn | 14.2 | 44.1% | 18.5% | −0.2% | +30% / +30% |
| TEVATeva Pharmaceutical Industries Limited | 48.8 bn | 97.4 | 6.6% | 3.6% | +4.3% | +56% / +326% |
| ZTSZoetis Inc. | 36.9 bn | 14.7 | 64.4% | 27.5% | +2.3% | −30% / −50% |
| ROIVRoivant Sciences Ltd. | 27.6 bn | — | -6.2% | -3,535.0% | −71.6% | +84% / +300% |
| RPRXRoyalty Pharma plc | 26.2 bn | 47.7 | 6.9% | 25.7% | +5.1% | +69% / +150% |
| UTHRUnited Therapeutics Corporation | 25.9 bn | 23.0 | 19.1% | 38.6% | +10.6% | +25% / +154% |
| INSMInsmed Inc | 24.1 bn | — | -72.5% | -39.9% | +66.7% | −47% / +340% |
| VTRSViatris Inc. | 22.1 bn | — | -23.6% | -23.9% | −3.0% | +80% / +109% |
| ALNYAlnylam Pharmaceuticals, Inc. | 21.6 bn | 8.1 | 126.6% | 52.8% | +65.2% | −64% / −4% |
| ORKAOruka Therapeutics, Inc. | 6.7 bn | — | -18.2% | — | unavailable | +237% / +364% |
| IONSIonis Pharmaceuticals, Inc. | 6.7 bn | — | -105.5% | -64.7% | +33.8% | −51% / −19% |
| IDYAIDEAYA Biosciences, Inc. | 3.1 bn | — | -38.5% | -1,149.6% | +3,024.4% | −9% / +3% |
| RADXRadiopharm Theranostics Limited | 3.1 bn | — | -109.2% | -1,055.3% | +1,114.3% | −81% / unavailable |
| AUPHAurinia Pharmaceuticals Inc. | 2.3 bn | 7.5 | 61.4% | 97.7% | +20.4% | +6% / +98% |
| QUREuniQure N.V. | 1.6 bn | — | -89.0% | -1,154.8% | −40.6% | −16% / +240% |
| URGNUroGen Pharma Ltd. | 1.4 bn | — | — | -26.3% | +21.4% | −0% / +118% |
1- and 3-year price returns: for NVS from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 04 Feb 2026; since then the company filed 6-K (27 Oct 2026), 6-K (08 Sept 2026), 6-K (04 Sept 2026), 6-K (01 Sept 2026), 6-K (21 Jul 2026), 6-K (11 Jun 2026).
In brief
Novartis is an innovative pharmaceutical company focused on cardiovascular, renal and metabolic, immunology, neuroscience and oncology. In 2025 net sales from continuing operations grew 8%, driven by newer medicines such as Kisqali and Kesimpta, amid pricing pressure and trade tensions. The US is a major share of revenue, with sales of USD 23.3 billion, against total net sales of USD 54.5 billion.
SWOT
Strengths
Weaknesses
- Reliance on a few large products, such as Cosentyx and Entresto, makes revenue sensitive to generic competition and patent expiry 1.
- High research spending and launch investments weigh on margins in the short term 1.
- Sales of established mature products continue to decline, adding pressure to overall revenue 1.
Opportunities
Risks
- Regulatory pricing pressurehigh
Regulatory changes and price control measures could reduce margins and revenue from certain medicines 1.
- Generic competitionhigh
Generic entry has already reduced sales of important products and may continue to affect them 1.
- Geopolitical and trade tensionsmedium
Sanctions, tariffs and protectionism could disrupt supply chains and operating costs 1.
- Dependence on key productsmedium
A small number of products generate a large share of revenue, making the company sensitive to their performance 1.
- Access to healthcarelow
Cuts to international aid budgets and cost constraints may limit patient access to medicines 1.
Investment thesis
What would need to be true (bull case)
What would break the thesis
What to watch
- Sales trajectory of Kisqali, Kesimpta and Pluvicto2026
- Impact of generic competition on Entresto and Promacta2026
- Effects of US and EU drug pricing rules2026
- Trend in operating margin and research investmentnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 04 Feb 2026; since then the company filed 6-K (27 Oct 2026), 6-K (08 Sept 2026), 6-K (04 Sept 2026), 6-K (01 Sept 2026), 6-K (21 Jul 2026), 6-K (11 Jun 2026).
The business
Novartis AG, a Swiss stock corporation headquartered in Basel, researches, develops, manufactures and sells medicines in about 120 countries, with 75 267 full-time equivalent employees at December 31, 2025 1. The company aims to reimagine medicine and focuses on four core therapeutic areas with strong growth potential and high unmet patient needs 1. Its operations are organized into Biomedical Research, Development, Operations and two commercial units, US and International 1.
In 2025 the company reported net income from continuing operations of USD 14.0 billion and net cash flows from operating activities of USD 19.1 billion, with an operating income margin of 32.4% 1. Results are reported in US dollars, and the company also presents non-IFRS core results to show underlying performance 1.
Following the 2023 Sandoz spin-off, continuing operations comprise the innovative medicines business and corporate activities, so the 2025 and 2024 results include no discontinued operations 1.
Segments
Oncology
Oncology was the largest therapeutic area, with net sales of USD 16.8 billion in 2025, up 18% 1. Kisqali, at USD 4.8 billion and up 58%, and Pluvicto, at USD 2.0 billion, contributed to this development 1.
Immunology
Immunology generated sales of USD 10.3 billion in 2025, up 11%, with Cosentyx as the main product at USD 6.7 billion 1.
Neuroscience
Neuroscience grew 26% in 2025 to USD 6.0 billion, driven mainly by Kesimpta at USD 4.4 billion 1.
Market context
The company names the US, China, Germany and Japan as its four priority markets, which together account for most of the expected growth in global healthcare spending through 2030 1. Sales in China were USD 4.2 billion in 2025 1. Overall, US sales rose 10% and rest-of-world sales rose 7% 1.
The company notes that pricing pressure is rising from regulatory changes, government funding constraints and trade tariffs, while generic competition reduced sales of some mature products 1.
Trends
- Rising demand for quality treatmenttailwind
Demand for high quality healthcare is rising, particularly in oncology, cardiovascular and immunology, and the US, EU and China markets are expanding 1. This could support growth in sales of innovative medicines.
- Scientific and digital progresstailwind
Advances in medical science and digital technologies, including AI, open opportunities for new treatments and faster development 1. Investment in radioligand therapy, xRNA and cell and gene therapy remains central 1.
- Pricing pressureheadwind
US legislation, including the Inflation Reduction Act, introduced price controls for some Medicare drugs, and the EU is revising rules on access and affordability 1. These changes could reduce revenue from certain products.
- Geopolitics and supply chainsmixed
Geopolitical tensions, trade protectionism and sanctions may disrupt complex pharmaceutical supply chains 1. The effect depends on how trade measures evolve.
Competitive position
Competition includes innovative pharmaceutical companies developing treatments in the same areas, such as cardiovascular, oncology and immunology, as well as generic manufacturers whose entry has reduced sales of some mature Novartis products 1. For Entresto, Promacta and Tasigna, generic competition has already affected revenue 1.
- Generic manufacturers
Generic competition reduced sales of Entresto, Promacta, Tasigna and Lucentis, according to the company's report 1.
- Innovative oncology companies
The oncology market includes several drug developers competing in the same indications, such as melanoma and breast cancer 1.
- Immunology biologics companies
Treatments for psoriasis and arthritis compete with other biologic and innovative therapies in the same area 1.
- Gene and radioligand therapy developers
In gene therapy and radioligand therapy, several players develop similar technologies, making competition relevant over the long term 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- This cholesterol drug promised to be a game-changer. Why did it flop in the clinic — and is there still hope?Nature · 03 Nov 2026 · EN
- Regulatable membrane-bound IL-15 engineered TIL cell therapy for immune checkpoint inhibitor-resistant advanced melanoma: pooled analysis of phase 1 and 1/2 trialsNature Medicine · 03 Nov 2026 · EN
- 6 dividend stocks for investors who want to cut their exposure to the S&P 500MarketWatch — Top Stories · 02 Nov 2026 · EN
- STAT+: Pharmalittle: We’re reading about payments to Russian middlemen, a possible Dupixent rival, and moreSTAT News · 02 Nov 2026 · EN
- Novartis multiple sclerosis treatment cuts rates of relapse in pivotal trialsSTAT News · 23 Oct 2026 · EN
- Medicament nou pentru tratarea bolilor autoimune. Acord de aproape 8 miliarde de dolari Novartis - Abogen pentru terapii bazate pe mRNAProfit.ro · 04 Oct 2026 · RO
- Novartis Inks Chinese mRNA-Therapy Deal for Up to $7.8 BillionBloomberg Markets · 02 Oct 2026 · EN
- BoomRay and Novartis Pharma sign $900m deal for radioligand therapyYahoo Finance — News · 23 Sept 2026 · EN
- Novartis (NVS) Faces Another Pipeline Setback as ALS Drug Fails Mid-Stage TrialYahoo Finance — News · 22 Sept 2026 · EN
- Novartis (NVS) Suffers its Third Drug Trial Setback in a Week, and its Worst Trading Day in YearsYahoo Finance — News · 18 Sept 2026 · EN
- Novartis (NVS) and Ionis (IONS)’ Big Cholesterol Bet Comes Up Short in Late-Stage TrialYahoo Finance — News · 17 Sept 2026 · EN
- Novartis Just Shook Up a Multibillion-Dollar Drug Race. What It Means for Eli Lilly Stock.Yahoo Finance — News · 14 Sept 2026 · EN
- Novartis (NVS) Just Handed Monte Rosa (GLUE) A $50M MilestoneYahoo Finance — News · 13 Sept 2026 · EN
- Jim Cramer Weighs Amgen (AMGN) After Novartis Trial FailureYahoo Finance — News · 12 Sept 2026 · EN
- Novartis: More Pain on the Way?Yahoo Finance — News · 11 Sept 2026 · EN
- Drug Trial Setbacks Raise Questions Over Novartis (NVS)’s Growth PipelineYahoo Finance — News · 11 Sept 2026 · EN
- STAT+: Pharmalittle: We’re reading about anxious Novartis investors, patent expirations for biologics, and moreSTAT News · 11 Sept 2026 · EN
- This week in charts: RA’s insatiable appetite, Novartis’ big slide and a reverse merger spreeYahoo Finance — News · 11 Sept 2026 · EN
- STAT+: Novartis, Novo Nordisk drug failures will likely ‘pop a hole in the balloon’ of the fieldSTAT News · 11 Sept 2026 · EN
- BofA Sees Limited Damage from Novartis (NVS)’ Pelacarsen Miss While Citi Looks Towards Ionis (IONS)Yahoo Finance — News · 11 Sept 2026 · EN
SEC filings
- Current report (foreign issuer)27 Oct 2026
- Current report (foreign issuer)08 Sept 2026
- Current report (foreign issuer)04 Sept 2026
- Current report (foreign issuer)01 Sept 2026
- Current report (foreign issuer)21 Jul 2026
- Current report (foreign issuer)11 Jun 2026
- Current report (foreign issuer)28 Apr 2026
- Current report (foreign issuer)18 Mar 2026
- Current report (foreign issuer)04 Feb 2026
- Current report (foreign issuer)04 Feb 2026
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / Novartis AG · 04 Feb 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.