Novartis AG (NVS) Q4 2025 Earnings Call

Investor webinar replay

Watch the replay and follow the connected company analysis, news, and investor updates for Novartis Ag.

Watch the replay

Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.658 Good morning and good afternoon, everyone, and welcome to our Q4 2025 earnings call. 00:00:05.658 -- 00:00:09.804 The information presented today contains forward-looking statements that involve known 00:00:09.804 -- 00:00:13.349 and unknown risks, uncertainties, and other factors. 00:00:13.349 -- 00:00:17.714 These may cause actual results to be materially different from any future results, performance, 00:00:17.714 -- 00:00:21.059 or achievements expressed or implied by such statements. 00:00:21.059 -- 00:00:24.063 Please refer to the company's Form 20F on file with the U.S. 00:00:24.063 -- 00:00:28.229 Securities and Exchange Commission for a description of some of these factors. 00:00:28.229 -- 00:00:32.816 The discussion today is not a solicitation of a proxy nor an offer of any kind with respect 00:00:32.816 -- 00:00:36.521 to the securities of Avidity Biosciences or SpinCo. 00:00:36.521 -- 00:00:39.044 The parties have filed relevant documents with the U.S. 00:00:39.044 -- 00:00:43.110 SEC, including a proxy statement for the transactions and a registration statement for 00:00:43.110 -- 00:00:47.516 the spinoff. We urge you to read these materials that contain important information when 00:00:47.516 -- 00:00:49.619 they become available. 00:00:49.619 -- 00:00:52.984 Before we get started, I also want to remind our analysts to please limit yourselves 00:00:52.984 -- 00:00:56.782 to one question at a time, and we'll cycle through the queue as needed. 00:00:56.782 -- 00:00:59.226 And with that, I will hand over to Beth. 00:00:59.226 -- 00:01:01.869 Terrific. Thank you, Sloan. And great to be with everyone today. 00:01:01.869 -- 00:01:07.057 With me in the room are Harry Kirsch, our Chief Financial Officer, and Mukul Mehta, 00:0...