Novartis AG: Mixed — EPS $2.46, Revenue $14.52B
NVSNovartis AG•Q3 2026•Oct 27, 2026, 6:25 AM EDT
0
Mixed ResultQ3 2026 · Pre-market
Did Novartis AG (NVS) beat earnings today?
It was a mixed report for Q3 2026 — Novartis AG (NVS) beat on EPS but missed on revenue.
Earnings Per Share+9.82% surprise
$2.46Actual
Expected: $2.24
vs. year ago +9.0%
Total Revenue-0.26% surprise
$14.52BActual
Expected: $14.56B
vs. year ago +4.0%
Released Oct 27 · 6:25 AM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $14.52B | $13.91B | +4.0% |
| Revenue detail — reported lines | |||
| └─Cosentyx | $1.86B | - | +9.0% |
| └─Kisqali | $1.82B | - | +37.0% |
| └─Kesimpta | $1.48B | - | +21.0% |
| └─Entresto | $1.17B | - | -38.0% |
| └─Pluvicto | $674.00M | - | +20.0% |
| └─Jakavi | $564.00M | - | +5.0% |
| └─Tafinlar + Mekinist | $570.00M | - | +4.0% |
| └─Ilaris | $591.00M | - | +25.0% |
| └─Scemblix | $593.00M | - | +66.0% |
| └─Leqvio | $506.00M | - | +64.0% |
| └─Zolgensma Group | $404.00M | - | +34.0% |
| └─Xolair | $331.00M | - | -25.0% |
| └─Sandostatin Group | $311.00M | - | +3.0% |
| └─Lutathera | $219.00M | - | +3.0% |
| └─Fabhalta | $237.00M | - | +59.0% |
| └─Exforge Group | $183.00M | - | +4.0% |
| └─Promacta/Revolade | $142.00M | - | -61.0% |
| └─Diovan Group | $137.00M | - | -4.0% |
| └─Tasigna | $141.00M | - | -36.0% |
| └─Piqray/Vijoice | $122.00M | - | +36.0% |
| └─Top 20 brands total | $12.05B | - | +7.0% |
| Net Income | $1.20B | $3.93B | -70.0% |
| GAAP EPS | $0.63 | $2.04 | -69.0% |
| Core EPS | $2.46 | $2.25 | +9.0% |
Financial Outlook / Guidance
| Metric | Next Quarter Outlook | FY2026 Outlook |
|---|---|---|
| Net sales | — | Expected to grow low single-digit |
| Core operating income | — | Expected to be in line to grow low single-digit (prev. decline low single-digit) |
Business Highlights
- ➤FDA approved Rhapsido for symptomatic dermographism inadequately controlled by H1 antihistamines.
- ➤FDA and China’s NMPA approved Pluvicto with an ARPI for mAPMN/S prostate cancer.
- ➤Japan’s MHLW approved Fabhalta for IgA nephropathy; FDA granted traditional approval.
- ➤CHMP issued a positive opinion for Cosentyx in polymyalgia rheumatica.
- ➤FDA granted del-zota priority review for DMD44.
- ➤Phase III REMODEL-1 and -2 met the primary endpoint for remibrutinib in RMS.
- ➤Novartis discontinued Phase III remibrutinib study in generalized myasthenia gravis after futility analysis.
- ➤Completed acquisition of Myricx Bio, adding ADC assets targeting B7-H3 and HER2.
- ➤Exercised option for global rights to Sironax’s Brain Delivery Module platform.
- ➤Entered exclusive global licensing agreement with BoomRay Pharmaceuticals for a preclinical radioligand asset.
- ➤Entered licensing and option agreement with Abogen Biosciences for RNA-encoded therapeutics.
- ➤Repurchased 30.9 million shares during the first nine months of 2026.
Management Commentary
Vas Narasimhan, CEO
“Novartis delivered solid sales growth in Q3, as priority brands and launches more than offset generic erosion, demonstrating the replacement power of the business. Combined with productivity efforts, this drove strong bottom-line performance and allowed us to upgrade our full-year guidance. At the same time, we continued to advance our pipeline, with positive Phase III results for remibrutinib in RMS, label expansions for Rhapsido and Pluvicto in the US, and the first submission for pelabresib in the EU. While the del-desiran readout in DM1 was not what we had hoped, we saw evidence of clinical activity in the data and are working through the development path for this medicine. Importantly, our programs in FSHD and DMD continue to progress well. With continued momentum across the business and pipeline, we remain well on track to deliver our mid- and long-term outlook.”