Zurich (AFP) – Swiss pharmaceuticals giant Novartis posted Thursday a 29 percent increase in first-half net income, at $7.6 billion, and unveiled its new chief financial officer. The Basel-based firm’s net sales increased 12 percent to nearly $27.3 billion between January and June, it said in a statement. Generic competition reduced its sales by two percent.
In the first half of 2025, sales of Entresto — its flagship drug to treat chronic heart failure — reached $4.6 billion, up 22 percent. Generic versions are expected to hit the market in the second half of the year. Novartis chief executive Vas Narasimhan also pointed to the strong performance of other treatments such as Kisqali, for breast cancer, and Pluvicto, for prostate cancer.
The group also announced a change in its financial leadership due to take place next year. Mukul Mehta, the head of business planning and analysis in digital finance and tax, will become the new chief financial officer in March. He will succeed Harry Kirsch, who has held the position since 2013. Kirsch is retiring after 22 years with the company.
© 2024 AFP
