Novartis has reported a net income of $2.81bn, or $1.42 per diluted share, for the fourth quarter of 2024 (Q4 2024), a 67% decline compared to $8.48bn, or $4.14 per diluted share for the same quarter in 2023.
The Swiss drugmaker’s net income for Q4 2024 decreased by 11.5% compared to $3.18bn for the third quarter of 2024 (Q3 2024).
The company reported net sales of $13.15bn for Q4 2024, a 15% rise compared to $11.42bn for the same quarter in 2023, and a 2.5% rise compared to $12.82bn for Q3 2024.
Novartis reported an operating income of $3.53bn for Q4 2024, a 37% increase compared to $2.58bn for the same period in the previous year.
The pharmaceutical company reported an income before tax of $3.28bn for Q4 2024, a 38% rise compared to $2.37bn for the respective quarter in 2023.
Novartis CEO Vas Narasimhan said: “In our first full year as a pure-play innovative medicines company, Novartis delivered one of the strongest financial performances in our history, growing sales 12% cc and core operating income 22% cc.
“We also achieved important innovation milestones, including new approvals and readouts for many of the assets that will fuel our growth over the mid- to long-term.
“With the momentum we are seeing in the business, we expect to continue our strong sales growth with margin expansion in 2025 and we remain on track to deliver on our mid-term guidance.
“Looking ahead, we are focused on executing against our pipeline, including 15 submission-enabling readouts over the coming years and more than 30 assets with the potential to drive differentiated growth over the long term.”
Novartis has reported a net income of $11.93bn for the full year 2024, a 20% rise compared to $14.85bn for the full year 2023.
The pharmaceutical company reported net sales of $50.31m for the full year 2024, an 11% increase compared to $45.44bn for the full year 2023.
The Swiss drugmaker reported an operating income of $14.54bn for the full year 2024, a 50% rise compared to $9.76bn for the full year 2023.
Novartis has reported an income before tax of $13.64bn for the full year 2024, a 49.5% increase compared to $9.12bn for the full year 2023.
