Novartis Ag · SIX:NOVN
Novartis — Q4 2025 Earnings Presentation
87 slides from Novartis's earnings presentation, Feb 4, 2026
Slide 1: Q4 2025 Results
Content Click below to navigate through the document Company overview 2025 financial review Q4 2025 2026 guidance Conclusions Results Appendix References Investor presentation February 4, 2026 Novartis Q4 Results | February 4, 2026 1
Slide 2: Disclaimer
Content Click below to navigate Disclaimer through the document Company overview 2025 financial review This 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 “pl
Slide 3: Disclaimer
Content Click below to navigate Disclaimer through the document Company overview 2025 financial review Additional information and Where to Find It In connection with the spin-off or sale of SpinCo and the merger by which Novartis will indirectly acquire all outstanding shares of Avidity (the “Transa
Slide 4: Company overview
Content Click below to navigate through the document Company overview 2025 financial review 2026 guidance Company Conclusions Appendix overview Company overview References Vas Narasimhan, M.D. Chief Executive Officer Vas Narasimhan, M.D. Chief Executive Officer Novartis Q4 Results | February 4, 2026
Slide 5: Novartis delivered high single-digit sales growth, achieved 40% core margin and advanced the pipeline in 2025
Content Click below to navigate Novartis delivered high single-digit sales growth, achieved 40% core1 margin and further advanced the pipeline in 2025 through the document Company overview 2025 financial review 2026 guidance Strong FY top and bottom line growth Q4 pipeline highlights Growth vs. PY,
Slide 6: Growth drivers continued their strong trajectory, more than offsetting generic erosion
GROWTH Content Click below to navigate Growth drivers continued their strong trajectory, more than offsetting the impact of increasing generic erosion through the document Company overview 2025 financial review FY sales 2026 guidance Sales Growth vs. PY Growth vs. PY USD million USD million cc1 Conc
Slide 7: Kisqali FY sales grew +57% cc to USD 4.8bn
GROWTH Content Click below to navigate Kisqali® FY sales grew +57% cc to USD 4.8bn, outpacing the market and CDK4/6 competition through the document Company overview 2025 financial review Sales evolution US eBC NBRx1 US: +45%* in Q4 2026 guidance USD m, % cc 80% Kisqali Competitor 1 Competitor 2 • C
Slide 8: Kesimpta FY sales grew +36% cc to USD 4.4bn
GROWTH Content Click below to navigate Kesimpta® FY sales grew +36% cc to USD 4.4bn, fueled by continued strong demand through the document Company overview 2025 financial review Sales evolution US: +27% in Q4 2026 guidance USD m, % cc • Robust TRx growth +21%, gaining +2.2pts market share and +2.4p
Slide 9: Pluvicto FY sales increased +42% cc to USD 2.0bn
GROWTH Content Click below to navigate Pluvicto® FY sales increased +42% cc to USD 2.0bn, with continued momentum in US pre-taxane mCRPC and ex-US access expansion through the document Company overview 2025 financial review Sales evolution Strong Q4 performance, driven by US pre-taxane setting 2026
Slide 10: Leqvio FY sales grew +57% cc to USD 1.2bn
GROWTH Content Click below to navigate Leqvio® FY sales grew +57% cc to USD 1.2bn, achieving blockbuster status through the document Company overview 2025 financial review Sales evolution US: +41% in Q4, outpacing advanced lipid-lowering market1,2 2026 guidance USD m, % cc • MOTRx +56% vs. PY (marke
Slide 11: Scemblix FY sales grew +85% cc to USD 1.3bn
GROWTH Content Click below to navigate Scemblix® FY sales grew +85% cc to USD 1.3bn, achieving blockbuster status and NBRx leadership in US1 and in JP3 through the document Company overview 2025 financial review Sales evolution US All LoT NBRx Share (R3M)1 US: NBRx leader across all lines 2026 guida
Slide 12: Cosentyx FY sales grew +8% cc to USD 6.7bn
GROWTH Content Click below to navigate Cosentyx® FY sales grew +8% cc to USD 6.7bn, fueled by continued demand for new launches and core indications through the document Company overview 2025 financial review Sales evolution US: +9% in Q4, with higher HS and IV demand 2026 guidance USD m, % cc • #1
Slide 13: Renal portfolio rollout continues; amending zigakibart PhIII protocol
GROWTH Content Click below to navigate Renal portfolio rollout continues; amending zigakibart PhIII protocol to focus on eGFR readout through the document Company overview 2025 financial review Steady growth continues across indications and geographies 2026 guidance Conclusions US: IgAN portfolio1 c
Slide 14: Rhapsido US CSU launch delivering encouraging initial results
GROWTH Content Click below to navigate Rhapsido® US CSU launch delivering encouraging initial results through the document Company overview 2025 financial review Positive early launch indicators 2026 guidance Strong patient demand, with Positive reception from allergists and Early access wins suppor
Slide 15: Rhapsido CSU launch provides foundation for future indication expansion
INNOVATION Content Click below to navigate Rhapsido® CSU launch provides foundation for future indication expansion through the document Company overview 2025 financial review Indication Phase I Phase II Phase III Status Advancing additional indications 2026 guidance with multi-blockbuster potential
Slide 16: Itvisma US approval brings one-time gene replacement therapy to SMA patients
INNOVATION Content Click below to navigate Itvisma® US approval brings one-time gene replacement therapy to children 2 years and older, teens and adults living with SMA through the document Company overview 2025 financial review 2026 guidance Broad label Strong value proposition Multi-blockbuster op
Slide 17: Phase III MANIFEST-2 96-week data of pelabresib+ruxolitinib in MF
INNOVATION Content Click below to navigate Phase III MANIFEST-2 96-week data of pelabresib+ruxolitinib showed deep and durable responses and comparable safety profile vs. ruxolitinib in MF through the document Company overview 2025 financial review Splenic responses sustained in a higher % of patien
Slide 18: Positive Phase III readout of KLU156 in malaria
INNOVATION Content Click below to navigate Positive Phase III readout of KLU156 represents the first major innovation in treatment of the deadliest form of malaria in 25 years through the document Company overview 2025 financial review Novel class of antimalarial in KLU156 Phase III KALUMA study 202
Slide 19: Significantly advanced the pipeline in 2025, achieving nearly every milestone
INNOVATION Content Click below to navigate Significantly advanced the pipeline in 2025, achieving nearly every milestone through the document Company overview 2025 selected key events (expected) H1 2025 H2 2025 Status as of end Q4 2025 financial review Atrasentan IgAN US US approval (Q2) Regulatory
Slide 20: Expect to continue our innovation momentum in 2026
INNOVATION Content Click below to navigate Expect to continue our innovation momentum in 2026, including 7 pivotal readouts with the potential to strengthen our mid-long term outlook through the document Company overview 2025 financial review 2026 selected key events (expected) 2026 guidance Conclus
Slide 21: 2025 financial review
Content Click below to navigate through the document Company overview 2025 financial review 2026 guidance 2025 financial Conclusions 2025 financial Appendix review review References Harry Kirsch Chief Financial Officer Harry Kirsch Chief Financial Officer Novartis Q4 Results | February 4, 2026 21
Slide 22: Novartis continued strong track record of sales growth with core margin expansion in 2025
FINANCIAL PROFILE Content Click below to navigate Novartis continued strong track record of sales growth with core margin expansion in 2025 through the document Company overview 2025 financial review Continuing operations1 performance, numbers restated post-Sandoz spin-off 2026 guidance Net sales Co
Slide 23: In 2025, we delivered our upgraded full-year guidance
FINANCIAL PROFILE Content Click below to navigate In 2025, we delivered our upgraded full-year guidance through the document Company overview 2025 financial review 2025 growth vs. PY (in cc1) 2026 guidance Conclusions Net sales Core operating income Appendix FY guidance expected to grow expected to
Slide 24: Solid top and bottom-line FY growth, with record core margin and free cash flow
FINANCIAL PROFILE Content Click below to navigate Solid top and bottom-line FY growth, with record core margin and free cash flow through the document Company overview 2025 financial review Key figures1 Change vs. PY Change vs. PY FY FY Q4 Q4 USD million, unless indicated 2026 guidance otherwise 202
Slide 25: Continued focus on Free Cash Flow generation yielding results
FINANCIAL PROFILE Content Click below to navigate Continued focus on Free Cash Flow generation yielding results through the document Company overview 2025 financial review Free Cash Flow1 2026 guidance USD billion Conclusions +13% CAGR Appendix 2025 growth driven References by higher core operating
Slide 26: Continuing our shareholder-friendly capital allocation strategy
FINANCIAL PROFILE Content Click below to navigate Continuing our shareholder-friendly capital allocation strategy through the document Company overview 2025 financial review Investing in the business Returning capital to shareholders 2026 guidance Conclusions Investments in organic business Consiste
Slide 27: Novartis proposes 3.70 CHF/share dividend; 29th consecutive increase
FINANCIAL PROFILE Content Click below to navigate Novartis proposes 3.70 CHF/share1 dividend at the AGM; 29th consecutive dividend increase in CHF since 1996 through the document Company overview 2025 financial review CHF dividend USD dividend 2026 guidance 2025 proposal: 2024: CHF 3.701/USD 4.674 C
Slide 28: 2026 guidance
Content Click below to navigate through the document Company overview 2025 financial review 2026 guidance Conclusions Appendix 2026 guidance 2026 guidance References Mukul Mehta Incoming Chief Financial Officer Mukul Mehta Incoming Chief Financial Officer Novartis Q4 Results | February 4, 2026 28
Slide 29: Novartis 2026 full year guidance
FINANCIAL PROFILE Content Click below to navigate Novartis 2026 full year guidance through the document Company overview 2025 financial review Expected, barring unforeseen events; growth vs. PY in cc1, 2 2026 guidance Conclusions Net sales Core operating income Appendix expected to grow expected to
Slide 30: 2026 H1 impacted by Entresto, Tasigna, and Promacta US Gx
FINANCIAL PROFILE Content Click below to navigate 2026 H1 impacted by Entresto®, Tasigna®, and Promacta® US Gx1 through the document Company overview 2025 financial review 2026 growth vs. PY (cc)2 2026 guidance Illustrative H1 H2 FY Conclusions Mid single-digit Appendix Net sales Low single-digit Re
Slide 31: Expected currency impact for Q1 and full year 2026
FINANCIAL PROFILE Content Click below to navigate Expected currency impact for Q1 and full year 2026 through the document Company overview 2025 financial review Currency impact vs. PY 2026 guidance %pts, assuming late-January exchange rates prevail in 2026 Conclusions FX impact on Net sales FX impac
Slide 32: Conclusions
Content Click below to navigate through the document Company overview 2025 financial review 2026 guidance Conclusions Appendix Conclusions Conclusions References Vas Narasimhan, M.D. Chief Executive Officer Vas Narasimhan, M.D. Chief Executive Officer Novartis Q4 Results | February 4, 2026 32
Slide 33: Confident in mid-term sales guidance of +5-6% cc CAGR from 2025 to 2030
Content Click below to navigate Confident in mid-term sales guidance of +5-6% cc CAGR from 2025 to 2030, including lower growth year in 2026 and US MFN agreement impacts through the document Company overview 2025 financial review Illustrative net sales, cc1 2026 guidance +5-6% CAGR Conclusions Mainl
Slide 34: Delivered strong 2025 performance with high single-digit sales growth
Content Click below to navigate through the document Company overview 2025 financial review 2026 guidance Conclusions Delivered strong Priority brands Advanced the Confident in 2025 performance continued to pipeline meaningfully achieving our Appendix with high single-digit outperform, in 2025; 7 pi
Slide 35: Appendix
Content Click below to navigate through the document Company overview 2025 financial review 2026 guidance Conclusions Appendix Appendix Innovation: Pipeline overview Financial performance Innovation: Clinical trials Abbreviations References Novartis Q4 Results | February 4, 2026 35
Slide 36: Key innovation milestones in 2026
INNOVATION Content Click below to navigate Key innovation milestones in 2026 through the document Company overview 2026 selected key events (expected) H1 2026 H2 2026 Regulatory Rhapsido® CIndU US Pluvicto® mHSPC US, JP, CN 2025 financial review decisions Rhapsido® CSU EU JP Cosentyx® PMR US 2026 gu
Slide 37: Our pipeline projects at a glance
INNOVATION Content Click below to navigate Our pipeline projects at a glance through the document Company overview 2025 financial review Phase I/II Phase III Registration Total 2026 guidance Oncology 15 11 1 27 Conclusions Solid tumors 13 5 1 19 Hematology 2 6 0 8 Appendix Innovation: Pipeline overv
Slide 38: Novartis pipeline in Phase I lead indications
INNOVATION Content Click below to navigate Novartis pipeline in Phase I 13 lead indications through the document Lead indication Company overview Oncology Neuroscience Code Name Mechanism Indication(s) Code Name Mechanism Indication(s) EDK060 EDK060 - Charcot-Marie-Tooth disease Solid tumors 2025 fi
Slide 39: Novartis pipeline in Phase II lead indications
INNOVATION Content Click below to navigate Novartis pipeline in Phase II 21 lead indications through the document Lead indication Company overview Oncology Immunology Code Name Mechanism Indication(s) Code Name Mechanism Indication(s) GHZ339 GHZ339 - Atopic dermatitis Solid tumors 2025 financial rev
Slide 40: Novartis pipeline in Phase III lead indications
INNOVATION Content Click below to navigate Novartis pipeline in Phase III 7 lead indications through the document Lead indication Company overview Oncology Neuroscience Code Name Mechanism Indication(s) Code Name Mechanism Indication(s) Solid tumors BAF312 Mayzent® S1P1,5 receptor modulator Multiple
Slide 41: Novartis pipeline in registration
INNOVATION Content Click below to navigate Novartis pipeline in registration through the document Company overview Oncology Code Name Mechanism Indication(s) Solid tumors 2025 financial review AAA617 Pluvicto® Radioligand therapy target PSMA Metastatic hormone sensitive prostate cancer (mHSPC) 2026
Slide 42: Novartis submission schedule: new molecular entities
INNOVATION Content Click below to navigate Novartis submission schedule through the document New Molecular Entities: Lead and supplementary indications Company overview CRM Immunology Neuroscience Oncology Non-core TA project 2025 financial review 2026 2027 2028 ≥2029 2026 guidance ianalumab zigakib
Slide 43: Novartis submission schedule: existing brands
INNOVATION Content Click below to navigate Novartis submission schedule through the document Supplementary indications for existing brands Company overview CRM Immunology Neuroscience Oncology Non-core TA project 2025 financial review 2026 2027 2028 ≥2029 2026 guidance Cosentyx® Fabhalta® Lutathera®
Slide 44: Net debt increased by USD 5.8bn as strong FCF was more than offset
Content Click below to navigate Net debt1 increased by USD 5.8bn as strong FCF2 was more than offset by shareholder distributions and M&A through the document Company overview 2025 financial review USD bn 2026 guidance -5.8 Conclusions Appendix Innovation: Pipeline overview Financial performance Inn
Slide 45: Clinical Trials Update
Content Click below to navigate through the document Company overview 2025 financial review 2026 guidance Conclusions Appendix Clinical Trials Update Innovation: Pipeline overview Financial performance Innovation: Clinical trials > C ardiovascular, Renal and Metabolic > I mmunology > N euroscience >
Slide 46: Cardiovascular, Renal and Metabolic
Content Click below to navigate through the document Company overview 2025 financial review 2026 guidance Conclusions Appendix Cardiovascular, Renal and Metabolic Innovation: Pipeline overview Financial performance Innovation: Clinical trials > C ardiovascular, Renal and Metabolic > I mmunology > N
Slide 47: atrasentan - ETA receptor antagonist
Content atrasentan - ETA receptor antagonist Click below to navigate through the document Company overview NCT04573478 ALIGN (CHK01-01) 2025 financial review Indication IgA nephropathy Phase Phase 3 2026 guidance Patients 380 Conclusions Primary Change in proteinuria Time Frame: Up to Week 24 or app
Slide 48: Fabhalta - CFB inhibitor
Content Fabhalta® - CFB inhibitor Fabhalta® - CFB inhibitor Click below to navigate through the document Company overview NCT04578834 APPLAUSE-IgAN (CLNP023A2301) NCT05755386 APPARENT (CLNP023B12302) 2025 financial review Indication IgA nephropathy Indication Immune complex-mediated membranoprolifer
Slide 49: Leqvio - siRNA (regulation of LDL-C)
Content Leqvio® - siRNA (regulation of LDL-C) Leqvio® - siRNA (regulation of LDL-C) Click below to navigate through the document Company overview NCT03705234 ORION-4 (CKJX839B12301) NCT05030428 VICTORION-2P (CKJX839B12302) 2025 financial review Indication Hypercholesterolemia inc. Heterozygous Famil
Slide 50: Leqvio - siRNA (regulation of LDL-C)
Content Leqvio® - siRNA (regulation of LDL-C) Click below to navigate through the document Company overview NCT05739383 VICTORION-1P (CKJX839D12302) 2025 financial review Indication CVRR (Primary prevention) Phase Phase 3 2026 guidance Patients 14000 Conclusions Primary Time to the first occurrence
Slide 51: LTP001 - SMURF1 Inhibitor
Content LTP001 - SMURF1 Inhibitor Click below to navigate through the document Company overview NCT06649110 (CLTP001A12202) 2025 financial review Indication Pulmonary arterial hypertension Phase Phase 2 2026 guidance Patients 232 Conclusions Primary Part A- Number of participants with Adverse events
Slide 52: pelacarsen - Antisense oligonucleotide targeting Lp(a)
Content pelacarsen - Antisense oligonucleotide (ASO) Click below to navigate targeting Lp(a) through the document Company overview NCT04023552 Lp(a)HORIZON (CTQJ230A12301) 2025 financial review Indication Secondary prevention of cardiovascular events in patients with elevated levels of lipoprotein(a
Slide 53: QCZ484
Content QCZ484 Click below to navigate through the document Company overview NCT06857955 (CQCZ484A12201) 2025 financial review Indication Hypertension Phase Phase 2 2026 guidance Patients 380 Conclusions Primary Change from baseline at Month 3 in mean 24hr systolic blood pressure (SBP) by Outcome am
Slide 54: zigakibart - Anti-APRIL
Content zigakibart - Anti-APRIL Click below to navigate through the document Company overview NCT05852938 BEYOND (CFUB523A12301) 2025 financial review Indication IgA nephropathy Phase Phase 3 2026 guidance Patients 350 Conclusions Primary Change in proteinuria [ Time Frame: 40 weeks or approximately
Slide 55: DII235
Content DII235 Click below to navigate through the document Company overview NCT07235046 (CDII235A12201) 2025 financial review Indication Risk reduction in cardiovascular disease w elevated Lp(a) Phase Phase 2b 2026 guidance Patients 200 Conclusions Primary 1) Time averaged percentage change from ba
Slide 56: Immunology
Content Click below to navigate through the document Company overview 2025 financial review 2026 guidance Conclusions Appendix Immunology Innovation: Pipeline overview Financial performance Innovation: Clinical trials > C ardiovascular, Renal and Metabolic > I mmunology > N euroscience > O ncology >
Slide 57: GHZ339
Content GHZ339 Click below to navigate through the document Company overview NCT06947993 (CADPT17A12201) 2025 financial review Indication Atopic dermatitis Phase Phase 2 2026 guidance Patients 224 Conclusions Primary Outcome Change from baseline in the Eczema Area and Severity Index (EASI) score at
Slide 58: ianalumab - BAFF-R inhibitor
Content ianalumab - BAFF-R inhibitor, ADCC-mediated B-cell Click below to navigate depletor through the document Company overview NCT05126277 SIRIUS-LN (CVAY736K12301) 2025 financial review Indication Lupus Nephritis Phase Phase 3 2026 guidance Patients 420 Conclusions Primary Outcome Frequency and
Slide 59: ianalumab - BAFF-R inhibitor
Content ianalumab - BAFF-R inhibitor, ADCC-mediated B-cell ianalumab - BAFF-R inhibitor, ADCC-mediated B-cell Click below to navigate depletor depletor through the document Company overview NCT05639114 SIRIUS-SLE 1 (CVAY736F12301) NCT05624749 SIRIUS-SLE 2 (CVAY736F12302) 2025 financial review Indica
Slide 60: ianalumab - BAFF-R inhibitor
Content ianalumab - BAFF-R inhibitor, ADCC-mediated B-cell Click below to navigate depletor through the document Company overview NCT06470048 VENUSS (CVAY736S12201) 2025 financial review Indication Systemic sclerosis Phase Phase 2 2026 guidance Patients 200 Conclusions Primary 3/5 Revised Composite
Slide 61: remibrutinib - BTK inhibitor
Content remibrutinib - BTK inhibitor Click below to navigate through the document Company overview NCT05976243 (CLOU064M12301) 2025 financial review Indication Chronic inducible urticaria Phase Phase 3 2026 guidance Patients 348 Conclusions Primary 1. Proportion of participants with complete respons
Slide 62: remibrutinib - BTK inhibitor
Content remibrutinib - BTK inhibitor remibrutinib - BTK inhibitor Click below to navigate through the document Company overview NCT06799000 RECHARGE1 (CLOU064J12301) NCT06840392 RECHARGE2 (CLOU064J12302) 2025 financial review Indication Hidradenitis suppurativa Indication Hidradenitis suppurativa Ph
Slide 63: Neuroscience
Content Click below to navigate through the document Company overview 2025 financial review 2026 guidance Conclusions Appendix Neuroscience Innovation: Pipeline overview Financial performance Innovation: Clinical trials > C ardiovascular, Renal and Metabolic > I mmunology > N euroscience > O ncology
Slide 64: Fabhalta - CFB inhibitor
Content Fabhalta® - CFB inhibitor Click below to navigate through the document Company overview NCT123456 APPRAISE (CLNP023Q12301) 2025 financial review Indication Generalized Myasthenia Gravis Phase Phase 3 2026 guidance Patients 146 Conclusions Primary Change from baseline to Month 6 in Myasthenia
Slide 65: Kesimpta - anti-CD20
Content Kesimpta® - anti-CD20 Click below to navigate through the document Company overview NCT06869785 FILIOS (COMB157Q12301) 2025 financial review Indication Multiple sclerosis new dosing regimen Phase Phase 3 2026 guidance Patients 180 Conclusions Primary Ofatumumab plasma pharmacokinetics - area
Slide 66: Mayzent - S1P1,5 receptor modulator
Content Mayzent® - S1P1,5 receptor modulator Click below to navigate through the document Company overview NCT04926818 NEOS (CBAF312D2301) 2025 financial review Indication Multiple sclerosis, pediatrics Phase Phase 3 2026 guidance Patients 120 Conclusions Primary Annualized relapse rate (ARR) in tar
Slide 67: remibrutinib - BTK inhibitor
Content remibrutinib - BTK inhibitor remibrutinib - BTK inhibitor Click below to navigate through the document Company overview NCT05147220 REMODEL-1 (CLOU064C12301) NCT05156281 REMODEL-2 (CLOU064C12302) 2025 financial review Indication Multiple sclerosis Indication Multiple sclerosis Phase Phase 3
Slide 68: remibrutinib - BTK inhibitor
Content remibrutinib - BTK inhibitor Click below to navigate through the document Company overview NCT06744920 RELIEVE (CLOU064O12301) 2025 financial review Indication Myasthenia Gravis Phase Phase 3 2026 guidance Patients 180 Conclusions Primary Change from baseline to Month 6 in Myasthenia Gravis
Slide 69: remibrutinib - BTK inhibitor
Content remibrutinib - BTK inhibitor Click below to navigate through the document Company overview NCT07225504 REMASTER (CLOU064P12301) 2025 financial review Indication Secondary progressive multiple sclerosis Phase Phase 3 2026 guidance Patients 1275 Conclusions Primary Time to 6-month confirmed di
Slide 70: VHB937 - TREM2 stabilizer and activator
Content VHB937 - TREM2 stabilizer and activator Click below to navigate through the document Company overview NCT07094516 (CVHB937A12201) 2025 financial review Indication Alzheimer's disease Phase Phase 2 2026 guidance Patients 407 Conclusions Primary Change from Baseline in the Clinical Dementia Ra
Slide 71: Oncology
Content Click below to navigate through the document Company overview 2025 financial review 2026 guidance Conclusions Appendix Oncology Innovation: Pipeline overview Financial performance Innovation: Clinical trials > C ardiovascular, Renal and Metabolic > I mmunology > N euroscience > O ncology > I
Slide 72: 225Ac-PSMA-617 - Radioligand therapy target PSMA
Content 225Ac-PSMA-617 - Radioligand therapy target PSMA Click below to navigate through the document Company overview NCT06780670 AcTFirst (CAAA817B12301) 2025 financial review Indication Metastatic castration-resistant prostate cancer Phase Phase 3 2026 guidance Patients 605 Conclusions Primary Ra
Slide 73: ianalumab - BAFF-R inhibitor
Content ianalumab - BAFF-R inhibitor, ADCC-mediated B-cell Click below to navigate depletor through the document Company overview NCT05653349 VAYHIT1 (CVAY736I12301) 2025 financial review Indication 1L Immune Thrombocytopenia Phase Phase 3 2026 guidance Patients 225 Conclusions Primary Time from ran
Slide 74: ianalumab - BAFF-R inhibitor
Content ianalumab - BAFF-R inhibitor, ADCC-mediated B-cell Click below to navigate depletor through the document Company overview NCT05648968 VAYHIA (CVAY736O12301) 2025 financial review Indication Warm autoimmune hemolytic anemia Phase Phase 3 2026 guidance Patients 90 Conclusions Primary Binary va
Slide 75: iptacopan - CFB inhibitor
Content iptacopan - CFB inhibitor Click below to navigate through the document Company overview NCT04889430 APPELHUS (CLNP023F12301) NCT05935215 APPRECIATE (CLNP023F12302) 2025 financial review Indication Atypical haemolytic uraemic syndrome Indication Atypical haemolytic uraemic syndrome Phase Phas
Slide 76: Lutathera - Radioligand therapy target SSTR
Content Lutathera® - Radioligand therapy target SSTR Click below to navigate through the document Company overview NCT06784752 NETTER-3 (CAAA601A62301) 2025 financial review Indication Gastroenteropancreatic neuroendocrine tumors Phase Phase 3 2026 guidance Patients 240 Conclusions Primary Progressi
Slide 77: Pluvicto - Radioligand therapy target PSMA
Content Pluvicto® - Radioligand therapy target PSMA Click below to navigate through the document Company overview NCT05939414 PSMA-DC (CAAA617D12302) 2025 financial review Indication Oligometastatic prostate cancer Phase Phase 3 2026 guidance Patients 450 Conclusions Primary Metastasis Free Survival
Slide 78: luxdegalutamide - Androgen receptor protein degrader
Content luxdegalutamide - Androgen receptor protein degrader Click below to navigate through the document Company overview NCT07047118 (CJSB462B12201) NCT06991556 (CJSB462C12201) 2025 financial review Indication Metastatic castration resistant prostate cancer Indication Metastatic hormonal sensitive
Slide 79: Vijoice - PI3Ki
Content Vijoice® - PI3Ki Click below to navigate through the document Company overview NCT05948943 EPIK-L1 (CBYL719P12201) 2025 financial review Indication Lymphatic Malformation Phase Phase 2/3 2026 guidance Patients 230 Conclusions Primary Outcome Stage 2: Radiological response rate at Week 24 of
Slide 80: In-market Brands & Global Health
Content Click below to navigate through the document Company overview 2025 financial review 2026 guidance Conclusions Appendix In-market Brands & Global Health Innovation: Pipeline overview Financial performance Innovation: Clinical trials > C ardiovascular, Renal and Metabolic > I mmunology > N eur
Slide 81: ganaplacide/lumefantrine - Non-artemisinin inhibitor
Content ganaplacide/lumefantrine - Non-artemisinin Click below to navigate plasmodium falciparum inhibitor through the document Company overview NCT05842954 KALUMA (CKLU156A12301) 2025 financial review Indication Malaria, uncomplicated Phase Phase 3 2026 guidance Patients 1720 Conclusions Primary PC
Slide 82: Rydapt - Multi-targeted kinase inhibitor
Content Rydapt® - Multi-targeted kinase inhibitor Click below to navigate through the document Company overview NCT03591510 (CPKC412A2218) 2025 financial review Indication Acute myeloid leukemia, pediatrics Phase Phase 2 2026 guidance Patients 20 Conclusions Primary Occurrence of dose limiting toxic
Slide 83: EDI048
Content EDI048 Click below to navigate through the document Company overview NCT07249463 (CEDI048A12201) 2025 financial review Indication Cryptosporidiosis infection Phase Phase 2 2026 guidance Patients 80 Conclusions Primary Average stool grade after the initiation of EDI048 or placebo treatment Ou
Slide 84: Abbreviations
Content Click below to navigate Abbreviations through the document Company overview 2025 financial review Abbreviation Full form Abbreviation Full form Abbreviation Full form 1L First-line GCA Giant Cell Arteritis PC Prostate Cancer 2026 guidance 2L Second-line gMG Generalized Myasthenia Gravis PCR
Slide 85: References 1 of 3
Content Click below to navigate References 1 of 3 through the document Company overview 2025 financial review Kisqali® (slide 7 references) 1 IQVIA Market Sizing Monthly Report, Oct 2025, rolling 3 months; Data lag ~ 2 months. 2026 guidance 2 Of CDK4/6 market, US rolling 3 months ending Oct 2025, IQ
Slide 86: References 2 of 3
Content Click below to navigate References 2 of 3 through the document Company overview 2025 financial review Leqvio® (slide 10 references) 1 Includes PCSK9 monoclonal antibodies and bempedoic acid. 2026 guidance 2 MOTRx Q4 QTD ending Dec 26, 2025 vs. PY. 3 600+ Priority Health Systems, depth growth
Slide 87: References 3 of 3
Content Click below to navigate References 3 of 3 through the document Company overview 2025 financial review Rhapsido® (slide 15 references) 1 Excludes comorbid CSU patients. US 2024 Census, Market Map, AWARE study (doi: 10.1111/cea.13309.), and internal Novartis data. 2026 guidance Itvisma® (slide