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1、Novartisgrowth storyVas Narasimhan,CEOJ.P.Morgan Healthcare ConferenceJanuary 14,2025Disclaimer2This presentation contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995,that can generally be identified by words such as“potential,”

2、“expected,”“will,”“planned,”“pipeline,”“outlook,”“confident,”or similar expressions,or by express or implied discussions regarding potential new products,potential new indications for existing products,potential product launches,or regarding potential future revenues from any such products;or regard

3、ing results of ongoing clinical trials;or regarding potential future,pending or announced transactions;regarding potential future sales or earnings;or by discussions of strategy,plans,expectations or intentions,including discussions regarding our continued investment into new R&D capabilities and ma

4、nufacturing;or regarding our capital structure;or regarding the consequences of the spin-off of Sandoz and our transformation into a“pure-play”innovative medicines company.Such forward-looking statements are based on the current beliefs and expectations of management regarding future events and are

5、subject to significant known and unknown risks and uncertainties.Should one or more of these risks or uncertainties materialize,or should underlying assumptions prove incorrect,actual results may vary materially from those set forth in the forward-looking statements.You should not place undue relian

6、ce on these statements.There can be no guarantee that the investigational or approved products described in this presentation will be submitted or approved for sale or for any additional indications or labeling in any market,or at any particular time.Nor can there be any guarantee that such products

7、 will be commercially successful in the future.Neither can there be any guarantee expected benefits or synergies from the transactions described in this presentation will be achieved in the expected timeframe,or at all.In particular,our expectations could be affected by,among other things:uncertaint

8、ies regarding the success of key products,commercial priorities and strategy;uncertainties in the research and development of new products,including clinical trial results and additional analysis of existing clinical data;uncertainties regarding the use of new and disruptive technologies,including a

9、rtificial intelligence;global trends toward healthcare cost containment,including ongoing government,payer and general public pricing and reimbursement pressures and requirements for increased pricing transparency;uncertainties regarding our ability to realize the strategic benefits,operational effi

10、ciencies or opportunities expected from our external business opportunities;our ability to realize the intended benefits of our separation of Sandoz into a new publicly traded standalone company;our ability to obtain or maintain proprietary intellectual property protection,including the ultimate ext

11、ent of the impact on Novartis of the loss of patent protection and exclusivity on key products;uncertainties in the development or adoption of potentially transformational digital technologies and business models;uncertainties surrounding the implementation of our new IT projects and systems;uncerta

12、inties regarding potential significant breaches of information security or disruptions of our information technology systems;uncertainties regarding actual or potential legal proceedings,including regulatory actions or delays or government regulation related to the products and pipeline products des

13、cribed in this presentation;safety,quality,data integrity,or manufacturing issues;our performance on and ability to comply with environmental,social and governance measures and requirements;major political,macroeconomic and business developments,including impact of the war in certain parts of the wo

14、rld;uncertainties regarding future global exchange rates;uncertainties regarding future demand for our products;and other risks and factors referred to in Novartis AGs most recently filed Form 20-F and in subsequent reports filed with,or furnished to,the US Securities and Exchange Commission.Novarti

15、s is providing the information in this presentation as of this date and does not undertake any obligation to update any forward-looking statements as a result of new information,future events or otherwise.All trademarks in this presentation are the property of their respective owners.This presentati

16、on includes non-IFRS financial measures,including constant currencies(cc),core results and free cash flow.An explanation of non-IFRS measures can be found on page 46 of the 3Q24 Interim Financial Report.Novartis growth story|January 14,2025We have transformed into a pure-play innovative medicines co

17、mpany.3Novartis growth story|January 14,20252014Pre-portfolio transformation55%Innovative MedicinesSandozAlconOTCAHVx2018 Pre-Alcon spin-offSandozAlcon2022Pre-Sandoz spin-offSandoz67%Innovative Medicines82%Innovative Medicines2023Focused company100%Innovative Medicines.while delivering strong operat

18、ional performance 41.As defined on page 35 of the 3Q24 Interim Financial Report,Continuing operations include the retained business activities of Novartis,comprising the Innovative Medicines Division and the continuing Corporate activities.2.Core results and constant currencies are non-IFRS measures

19、.Details regarding non-IFRS measures can be found starting on page 46 of the 3Q24 Interim Financial Report.Unless otherwise noted,all growth rates refer to same period in PY.Net salesUSDbn,%ccCore OpInc2USDbn,%ccCore margin2%Continuing operations1 performance,numbers restated post-Sandoz spin-off202

20、0201935.2201820212024E20232022+7%CAGR+5%+7%+4%+12%+10%2020201910.1201820212024E20232022+14%CAGR+10%+12%+13%+20%+18%33.9202332.430.6202228.735.1202120182024E202036.0High30s2019+990bps ccLow doubledigit growthHigh teensgrowthNovartis growth story|January 14,2025Our sales growth,margin expansion and ba

21、lance sheet discipline have led to robust free cash flow and improved ROIC51.2018 to 2022 figures reflecting revised free cash flow definition.Free cash flow is a non-IFRS measure.An explanation of non-IFRS measures can be found on page 46 of the 3Q24 Interim Financial Report.2.ROIC calculated as pe

22、r Bloomberg definition using reported(non-core)financials,adjusted to reflect Novartis post Sandoz spin-off.20239M 202412.6202213.212.1202113.712.4202012.211.820192018As%of Sales25.6%25.4%26.5%28.7%29.0%Novartis including SandozNovartis excl.SandozFree Cash Flow1 USDbn26.3%34.0%202220238%12%Returned

23、 on Invested Capital2Novartis excl.SandozNovartis growth story|January 14,2025We remain committed to executing our focused strategy.64 core therapeutic areasCardiovascular-Renal-Metabolic,Immunology,Neuroscience,Oncology2+3 technology platformsChemistry,BiotherapeuticsxRNA,Radioligand,Gene&Cell Ther

24、apy 4 priority geographiesUS,China,Germany,JapanAccelerate growth and deliver returnsDeliver high-value medicines(including launch excellence)Unleash the power ofour peopleScale data scienceand technologyBuild trust with societyDelivering through operational excellenceFocusPrioritiesExecutionStrengt

25、hen foundationsDeliver high-value medicines that alleviate societys greatest disease burdens through technology leadership in R&D and novel access approachesDriving efficiencies and agile resource allocationImproving R&D productivityNovartis growth story|January 14,2025.and continuing our shareholde

26、r-friendly capital allocation approach71.In CHF.2.As of Dec 31,2024.Substantial cash generationInvesting in the businessReturning capital to shareholdersConsistently growing annual dividend1USD 7.6bn dividend paid in 2024not rebased post Sandoz Share buybacksUp-to USD 15bn share buyback continuing,w

27、ith up to USD 5.4bn2 still to be executedValue-creating bolt-onsMultiple early-stage deals to strengthen our pipeline,including in RLT,renal and AI capabilitiesInvestments in organic businessOngoing investment in R&D and CapExNovartis growth story|January 14,2025Strong capabilities across technology

28、 platformsWe have deep expertise and capabilities in our core therapeutic areas and technology platforms,with a balanced global footprint81.Based on 2023 sales actuals.2.9M 2024 sales growth vs.PY in constant currencies.Constant currencies is a non-IFRS measure.Details regarding non-IFRS measures ca

29、n be found starting on page 46 of the 3Q24 Interim Financial Report.In-market and pipeline depth in 4 core therapeutic areasGeographically diversified;fast growth in priority markets2+15%USA+25%China+6%Germany+6%Japanin-market blockbusters1 in-market brands with USD 3bn+peak potentiallimited binary

30、risk on a single product1ChemistryBiotherapeuticsxRNARLTCell&Geneongoing launchesSubmission-enabling readouts in next 2 yearsPotential high-value pipeline assetsNovartis growth story|January 14,202560%1Ex-US businessDevelopment spend3Over the last few years,we have streamlined our pipeline and focus

31、ed our R&D spend.91.PhI to approval,excl.Global Health.2.Monthly average Biomedical Research FTEs per project.3.Core Development spend,growth in constant currencies,comparing Q1-Q3 2021 vs.Q1-Q3 2024.Core results and constant currencies are non-IFRS measures.Details regarding non-IFRS measures can b

32、e found starting on page 46 of the 3Q24 Interim Financial Report.Streamlined portfolio and increased TA focus1With increased resources and capabilitiesDriving focus and enhanced competencies1878401137261313Q3 20244155projects94projects9Q3 2021-39%Enhancing our technical R&D capabilities(incl.biother

33、apeutics,RLT,and siRNA),with USD 400m+in investments through 2028Significant investments in data science,technology and AIto increase probability of successand accelerate timelinesOptimized global footprint for clinical trials to acceleraterecruitment timesNovartis growth story|January 14,2025Resear

34、ch resources per project2Q3 2024Q3 2021+5%CAGRQ3 2024Q3 2021+49%CRMIMMNSONCOtherChemistryBiotherapeuticsxRNARLTCellGeneOncologyCRMImmunologyNeuroscience.and we continue to leverage our technology platforms across our core therapeutic areas10Current applications across our core TAsCurrently marketed

35、productsPipeline projects Potential to expandOur approach Broad applicability Sustained competitive advantage Scalability to build pipeline Advancement of disease area strategy Integration of diverse expertise Novartis growth story|January 14,2025We expect to drive consistent growth in the near-,mid

36、-and long-term,with 2023-2028 sales CAGR+6%and 2024-2029 sales CAGR+5%112024202945.420292023Net salesIllustrative,USD billion,%CAGR cc112024-2029+5%CAGRmid-singledigit+5%CAGR 2029mid-single digit122Low doubledigitDe-risked in-market brands+6%CAGR 23-28remibrutinibpelacarsenatrasentanianalumabzigakib

37、artremibrutinibatrasentanpelacarsenYTB323RLT portfolioSelectpipeline assetsianalumabOAV101 ITxRNA portfolioAll figures reflecting Continuing Operations.1.Constant currencies is a non-IFRS measure.Details regarding non-IFRS measures can be found starting on page 46 of the 3Q24 Interim Financial Repor

38、t.Novartis growth story|January 14,2025Novartis growth story through 202912024Gx impact2up to 2029In-market growth drivers3/base businessPipelineprobabilized2029+5%CAGRWe expect net sales to grow+5%cc CAGR 2024-2029,and core operating income margin1 to reach 40%+by 202713All figures reflecting Conti

39、nuing Operations.1.Core results and constant currencies are non-IFRS measures.Details regarding non-IFRS measures can be found starting on page 46 of the 3Q24 Interim Financial Report.2.For forecasting purposes,we assume Entresto US LoE in 2025.Timing of Entresto US generic entry is subject to ongoi

40、ng patent and regulatory litigation.3.Including indication expansion.MainlyEntrestoPromacta Tasigna Xolair Sandostatin LARJakavi MainlyremibrutinibOAV101 ITatrasentanianalumab pelacarsenMainlyKisqali LeqvioPluvicto FabhaltaScemblix Kesimpta Illustrative net sales,cc1Novartis growth story|January 14,

41、2025Core margin40%+by 2027We continue to deliver strong commercial execution across our portfolio,both in the US and InternationalNovartis growth story|January 14,2025141.Of CDK4/6 mBC market,US rolling 3 months ending November 2024,IQVIA Breast Cancer Market Sizing report.2.Of CDK4/6 eBC market,US

42、November 2024,IQVIA Breast Cancer Market Sizing report.3.US R4W ending December 13th,IQVIA report(data adjusted to account for adalimumab molecule overstatement in IQVIA data).4.Claims Data Stack,US rolling 3 months ending September 2024.Data adjusted for United cyber attack impact.5.US rolling 3 mo

43、nths ending October 2024,IQVIA CML market sizing report.6.US rolling 3 months ending November 2024,IQVIA CML market sizing report.7.Rank among pharmaceutical multinational companies.US select launches(NBRx shares)International ranking#4China7#1Germany#4Japan71450%leader in metastaticbreast cancer152

44、%leader in early breast cancer260%leader in hidradenitis suppurativa335%leader in post-taxane mCRPC,all lines424%in all lines,trending upwards post early-lines launch650%leader in3L+CML59M 2024We have eight in-market brands with USD 3bn to 8bn+potential,including multiple recent and upcoming indicat

45、ion expansions.15Constant currencies are non-IFRS measures.Details regarding non-IFRS measures can be found starting on page 46 of the 3Q24 Interim Financial Report.1.Existing marketed indications and expected future indications currently in development and/or registration.2.Timing of Entresto US ge

46、neric entry is subject to ongoing patent and regulatory litigation.With expected US exclusivity in 2030s or beyond 7.5bn+26%cc7bn+assuming USLoE in mid 20252Q324 salesannualizedQ3 growthPeak sales(approx.)Existing&expected future indications13.4bn+28%cc6bn+1.5bn+50%cc5bn+0.7bn+72%cc3bn+6.8bn+28%cc 8

47、bn+assuming US LoE in 2029Q324 salesannualizedQ3 growthPeak sales(approx.)Existing&expected future indications13.4bn+43%cc8bn+0.2bnnm3bn+Novartis growth story|January 14,20250.8bn+119%cc4bn+.with four potential multi-bn dollar assets expected to launch near-term16Constant currencies are non-IFRS mea

48、sures.Details regarding non-IFRS measures can be found starting on page 46 of the 3Q24 Interim Financial Report.1.Existing marketed indications and expected future indications currently in development and/or registration.2.Timing of Entresto US generic entry is subject to ongoing patent and regulato

49、ry litigation.With expected US exclusivity in 2030s or beyond 7.5bn+26%cc7bn+assuming USLoE in mid 20252Q324 salesannualizedQ3 growthPeak sales(approx.)Existing&expected future indications13.4bn+28%cc6bn+1.5bn+50%cc5bn+0.7bn+72%cc3bn+N/Amulti-bnN/Amulti-bnremibrutinibOAV101 IT6.8bn+28%cc8bn+assuming

50、 US LoE in 2029Q324 salesannualizedQ3 growthPeak sales(approx.)Existing&expected future indications13.4bn+43%cc8bn+0.8bn+119%cc4bn+0.2bnnm3bn+N/Amulti-bnN/Amulti-bnpelacarsenianalumabNovartis growth story|January 14,2025We expect 15+submission-enabling readouts in the next two years171.Event-driven

51、trial readout.2.ORION-4 expected readout in 2026 and VICTORION-2-PREVENT in 2027.Key assets with submission-enabling readouts through 2026(expected)IanalumabSjS readouts in 20252L ITP readout in 20251L ITP and wAIHA readouts in 2026CosentyxGCA readout in 2025PMR readout in 2025PluvictomCRPC pre-taxa

52、ne approval in 2025mHSPC readout in 20251PelacarsenCVRR-Lp(a)readout in 20251IgAN portfolioAtrasentan IgAN approval in 2025Zigakibart IgAN readout in 2026Novartis growth story|January 14,2025FabhaltaC3G approval in 2025IC-MPGN readout in 2026aHUS readout in 2026LeqvioCVRR-LDLC readout in 20262Post r

53、eadoutRemibrutinibCSU submission in 2025CINDU readout in 2026MS readout in 2026OAV101 ITSMA positive readout in Dec 2024 SMA submission in 2025Phase III STEER study of OAV101 IT met primary endpoint in children and young adults with spinal muscular atrophy181.Oskoui M,et al.SUNFISH Parts 1 and 2:4-y

54、ear efficacy and safety data of risdiplam in types 2 and 3 Spinal Muscular Atrophy(SMA).Available at:https:/ Y,et al.Longer-term follow-up of nusinersen efficacy and safety in adult patients with spinal muscular atrophy types 2 and 3.Neuromuscular Disorders.2022;32(6):451-459.3.Weber C,et al.Brain a

55、nd Development.2024;46(5):89-198.4.Coratti G,et al.Eur J Neurol.2024;31:e16309.5.Revised Hammersmith Scale for spinal muscular atrophy:A SMA specific clinical outcome assessment tool-PMC.6.OHagen JM,et al.Neuromuscular disorders:NMD.2007;17(910):6937.Epub 2007/07/31.7.The most common adverse events

56、were upper respiratory tract infection,pyrexia and vomiting.8.Secondary objectives included evaluating safety and efficacy of OAV101 IT using the Revised Upper Limb Module(RULM)scale.Novartis growth story|January 14,2025OAV101 ITShamPeriod 2(week 53-64)First investigational gene therapy to provide c

57、linical benefit in treatment-nave patients with SMA aged two and above6Study designGlobal regulatory submissions expected in 2025Broad patient population:Treatment-naive patients with SMA Type 2,2 to 10 Phase II readouts1 in next 5 yearsNovartis growth story|January 14,202521Selected projects(indica

58、tion)Pre-clinicalPhase IPhase IIPhase IIIRegistrationNext milestone/statusCosentyx(GCA)Readout H1 2025 Cosentyx(PMR)Readout H2 2025Remibrutinib(CSU)Submission in H1 2025Remibrutinib(CINDU)Readout 2026Remibrutinib(HS)Advancing into PhIII in 2025Remibrutinib(FA)Readout H2 2025Ianalumab(SjD)Readout H2

59、2025Ianalumab(LN)Readout 2027 Ianalumab(SLE)Readout 2027 ianalumab(HS)Readout 2025Ianalumab(SSc)Readout 2027 YTB323(srSLE/LN)Readouts from 2026YTB323(SSc)Trial recruitingYTB323(IIM)Trial recruitingYTB323(AAV)Starting PhII in 20252GIA632(IL-15 mAb)(multiple)PhII initiation H2 2025T-cell engagers(SLE)

60、Readouts from 2027Bi-specific antibodies(AtD)Readouts from 2027DermatologyRheumatologyDisease areaOtherImmunologyDisease areas(selected)Psoriasis,Psoriatic Arthritis Spondylitis/Spondyloarthritis HS,CSU,CINDU,AtD Sjgrens,SLE,LNAnchor assetsAdvanced platform capabilities Immune reset Bi-/tri-specific

61、 antibodies1.Includes OA portfolio.2.Direct to Phase II.In CRM,we focus on areas of high unmet need and continue to build on our strong mid-and late-stage pipeline22Selected projects(indication)Pre-clinicalPhase IPhase IIPhase IIIRegistrationNext milestone/statusLeqvio(CVRR-LDLC,secondary and primar

62、y prevention)Readouts 2026-2027Pelacarsen(CVRR-Lp(a)Readout 2025(event-driven)LTP001(SMURF1 inhibitor)(PAH)1Trial recruitingQCZ484(rHTN)Advancing into PhII in 2025Arrhythmia(multiple assets)Multiple assets in clinic 2025Inflammation(multiple modalities)First asset in clinic 2025Multiple siRNA assets

63、Several entering clinic in 2025-2026Atrasentan(IgAN)Approval expected 2025Iptacopan(C3G)Approval expected 2025Iptacopan(IC-MPGN,aHUS)Readout 2026Zigakibart(IgAN)Readout 2026Iptacopan(LN,AAV)Readouts 2026-2027TIN816(ATP modulator)(sAKI)Readout 2026Early renal(OJR520,UFJ776,etc.)Expected to enter the

64、clinic in 2026RenalCardiologyDisease areaCRMDisease areas(selected)Heart Failure and Hypertension Atherosclerosis Arrhythmia Rare Renal,Acute Kidney InjuryAnchor assetsNovartis growth story|January 14,2025Advanced platform capabilities xRNA(siRNA,ASO)1.Phase I/II.Neuroscience pipeline focuses on mul

65、tiple sclerosis,neuromuscular and neurodegenerative diseasesNovartis growth story|January 14,2025231.Phase I/II.2.Novartis has signed an exclusive global license agreement with PTC Therapeutics.This transaction is subject to customary closing conditions,including regulatory clearance.3.Direct to Pha

66、se II.Selected projects(indication)Pre-clinicalPhase IPhase IIPhase IIIRegistrationNext milestone/statusRemibrutinib(MS)Readout 2026Iptacopan(gMG)Readout 2027YTB323(RMS)1Trial recruitingYTB323(PPMS)1Trial recruitingYTB323(gMG)1Trial recruitingOAV101(SMA IT)Submission in 2025(FSHD,DM1)Lead optimizati

67、on/DiscoveryEDK060(CMT1A)IND in preparationPTC518(HD)2Trial ongoingNIO752(tau ASO)(AD,PSP)First readout 2025VHB937(TREM2)(ALS)Trial recruitingVHB937(AD)Starting PhII in 20253NeuromuscularMS/NeuroimmunologyDisease areaNeurodegenerativeNeuroscienceDisease areas(selected)Multiple Sclerosis Neuromuscula

68、r(Spinal Muscular Atrophy,others)Neurodegeneration(Alzheimers,Parkinsons,Huntingtons)Anchor assetsAdvanced platform capabilities Gene therapy xRNA Immune resetIn Oncology,we have multiple anchor brands in solid tumors and hematology,with a robust pipeline in prostate,breast and RLTNovartis growth st

69、ory|January 14,2025241.Bars show most advanced phase per project row.2.Ongoing combination study shown is sponsored by Olema Pharmaceuticals.3.Ongoing combination study shown is sponsored by Scorpion Therapeutics.4.Phase I/II.5.Code:AAA603.6.Name:Lu-FAP-2286.7.Name:Lu-NNS-309.8.Code:AAA817.9:Code:AA

70、A802.10.Code:DZR123.11.Name:Lu-EVS-459.12.Event-driven trial readout.OncologyDisease areas(selected)Breast Cancer Prostate Cancer Lung Cancer CML,NHL,MM,AML,MDS PNH,ITP,wAIHAAnchor assetsAdvanced platform capabilities RLT ADC CAR-T Bi-/tri-specific antibodiesSelected projects(MoA/indication)1Pre-cli

71、nicalPhase IPhase IIPhase IIIRegistrationNext milestone/statusKisqali+oral SERD2,4Advancing into PhIIIKisqali+mutant-selective PI3Ka inhibitor3,4Advancing into PhIINext-gen CDK assets(e.g.,CDK2 inhibitors)Advancing into PhI in 2025Lu-NeoB(GRPR RLT)5Readout expected 2026FXX489(RLT)7Trial ongoingEmerg

72、ing RLTs(including next-gen FAP,HER2)Studies ongoingPluvicto(pre-taxane mCRPC PSMAfore)Approval expected H1 2025Pluvicto(mHSPC PSMAddition)Readout expected H2 202512Pluvicto(oligometastatic PC PSMA-DC)Readout expected 2027Ac-PSMA-617(1st gen-emitting PSMA RLT)8Advancing into PhIII in H1 2025Ac-PSMA-

73、R2(2nd gen-emitting PSMA RLT)4,9Readout expected 2026JSB462(AR degrader)4Advancing into PhII in 2025Tulmimetostat(EZH1/2 inhibitor)4,10Trial ongoingLutathera(ES-SCLC)4Advancing into PhIII in 2027AAA614(multiple including NSCLC,PDAC)6Readout expected in 2026FXX489(multiple including NSCLC,PDAC,CRC)Tr

74、ial ongoingGIZ943(FOLR1R)11(NSCLC,ovarian cancer)Trial ongoingEmerging(next-gen FAP,HER2,DLL3,B7H3)(multiple)Studies ongoingProstate cancerBreast cancerDisease areaOther RLT programsWe continue to improve R&D productivity,with several initiatives expected to accelerate composite cycle timesNovartis

75、growth story|January 14,202525Select initiativesFast-to-IND Strategy(pre-clinical)Competitive standards defined with the ambition to accelerate IND submissions up to 12 months across modalitiesPredictive modelsManufacturing capacitiessecuredPhase appropriate developmentEnhanced Operations(clinical)I

76、mproved ways of working potentially leading to 1-2 years acceleration in select assetsTargeted acceleration Ambitious whitespace and trial standards AI Enabled(composite)AI to contribute to cycle time acceleration by 6+monthsUtilizing the power of data scienceand AI across R&DWe continue to strategi

77、cally invest in our advanced technology platforms across the value chain.26Data as of Q3 2024.1.From Exploratory to Preclinical.2.Source Evaluate Pharma estimate for the year 2030.3.Source MEDraysintell Nuclear Medicine Report&Directory Edition 2024,Radiotherapeutics market estimate for the year 203

78、3.Research&DevelopmentManufacturingCommercialMarketSelect clinical programsPreclinical1Novartis sitesIn-market assetsPlatform potential 7LeqvioCVRR,primary prevention;CVRR,secondary prevention192Kundl(AT)30bn2PelacarsenCVRR-Lp(a)Schweizerhalle(CH)NIO752Progressive supranuclear palsy;Alzheimers disea

79、seQCZ484rHTN17Pluvictopre-taxane mCRPC;mHSPC;oligometastatic PC186Milburn(US)29bn3Lutathera1L GEP-NET;Pediatrics+PPGL;GBM;ES-SCLCIndianapolis(US)AAA614Solid tumors,including NSCLC,PDACIvrea&Saluggia(IT)Ac-PSMA-617Prostate cancerZaragoza(ES)Ac-PSMA-R2Prostate cancerBaarle-Nassau(NL)Lu-NeoBSolid tumor

80、s,breast cancer,Glioblastoma multiforme4 expected new sites(US,CN,JP)11OAV101 ITSMA IT163Stein(CH)55bn2YTB323srSLE/LN,HRLBCL,Adult ALL,RMS,PPMS,IIM,SSc,gMG,AAVDurham(US)DFT383CystinosisMorris Plains(US)Novartis growth story|January 14,2025xRNARLTCell&GeneNeuroscience.and over the last 2 years,we hav

81、e signed more than 30 strategic deals to enhance our pipeline across therapeutic areas and technology platformsNovartis growth story|January 14,202527Select Corporate&Business Development transactions are shown in the phase of the most advanced indication for multiple asset deals.1.Novartis has sign

82、ed an exclusive global license and collaboration agreement with PTC Therapeutics.This transaction is subject to customary closing conditions,including regulatory clearance.Phase IIPhase IIIPhase IExploratory to preclinicalSelect examplesCRMCross-TA&AI/MLOncologyImmunologyxRNAxRNACell therapyGene the

83、rapyGene therapyxRNAGene therapy1RLTRLTRLTRLTCell therapyRLTWe continue to focus on key social,environmental and governance factors alongside our pursuit of sustainable shareholder value creation281.Pharmaceuticals subindustry group.Copyright Morningstar Sustainalytics.All rights reserved.Consistent

84、 industry-leading performance across priority ESG ratings Rank#1 in ATMIIndustry leader in Sustainalytics1 Leaders group in MSCIIndustry leader group in ISS ESG Double A List in CDP climate and waterCreating sustainable impactValue creationRisk mitigationInnovation and access to medicinesHumanCapita

85、lFuture-proof pipelineaddressing unmet needEnabling access to innovative medicinesDedicated Global Health unitDiversity,Equity&InclusionCultureTalentEthicsComplianceHuman rightsEnvironmental SustainabilityEthical StandardsEnablersClimateNatureGovernance,transparency,non-financial reportingNovartis g

86、rowth story|January 14,2025Novartis profile presents an opportunity for continued shareholder value creation in the short,medium,and long-term291 Continuing operations growth in constant currencies.Constant currencies is a non-IFRS measure.Details regarding non-IFRS measures can be found starting on

87、 page 46 of the 3Q24 Interim Financial Report.2.Pharmaceuticals subindustry group.Copyright Morningstar Sustainalytics.All rights reserved.Our strategy is delivering resultsAttractive growth profileRobust pipeline and capabilitiesWe continue to be an ESG leader4 core therapeutic areas and 2+3 techno

88、logy platformsDelivered+7%cc sales CAGR1 from 2018-2023,improved core margin and generated substantial cashflowsSales expected to grow+6%CAGR 2023-2028 and+5%CAGR 2024-2029Core margin of 40%+by 2027Mid-single digit sales growth cc in the long-termStreamlined and focused pipeline with increased R&D s

89、pendExpanding our advanced technology platforms30+potential high-value pipeline assetsFocus on key social,environmental and governance factorsRank#1 in ATMIIndustry leader in Sustainalytics2Novartis growth story|January 14,2025AppendixAbbreviationsNovartis growth story|January 14,202531AbbreviationF

90、ull FormAAVANCA-Associated VasculitisADAlzheimers DiseaseADCAntibody-Drug ConjugateaHUSAtypical Hemolytic Uremic SyndromeALSAmyotrophic Lateral SclerosisATMIAccess to Medicines IndexC3GC3 GlomerulopathyCAR-TChimeric Antigen Receptor T-cellCINDUChronic Inducible UrticariaCRCColorectal CancerCRMCardio

91、vascular-Renal-MetabolicCSUChronic Spontaneous UrticariaCVRRCardiovascular Risk ReductionFAFood AllergyFOLR1RFolate Receptor 1FTEFull-Time EquivalentGCAGiant Cell ArteritisgMGGeneralized Myasthenia GravisHFMSEHammersmith Functional Motor Scale ExpandedHSHidradenitis SuppurativaIC-MPGNImmune Complex-

92、Mediated Membranoproliferative GlomerulonephritisAbbreviationFull FormIgANImmunoglobulin A NephropathyIIMIdiopathic Inflammatory MyopathiesINDInvestigational New DrugLNLupus NephritisLp(a)Lipoprotein(a)NSCLCNon-Small Cell Lung CancerPDACPancreatic Ductal AdenocarcinomaPMRPolymyalgia RheumaticaPPMSPr

93、imary Progressive Multiple SclerosisPSPProgressive Supranuclear PalsyrHTNResistant HypertensionRLTRadioligand TherapyRMSRelapsing Multiple SclerosissAKISepsis-Associated Acute Kidney InjurySjDSjgrens DiseaseSLESystemic Lupus ErythematosusSMASpinal Muscular AtrophySScSystemic SclerosisTCET-Cell EngagerwAIHAWarm Autoimmune Hemolytic Anemia