Novartis AG Q3 2026 Earnings Recap

Novartis reported Q3 sales growth and core margin expansion, with the stock up 1.5% after earnings—within the roughly flat range. Full-year 2026 bottom-line guidance was raised, while management said meaningful acceleration in Pluvicto’s hormone-sensitive prostate cancer launch is more likely next year.

Key Takeaways

• Sales increased 4% in constant currency and core operating income rose 10%; management cited margin expansion and raised full-year 2026 bottom-line guidance.
• Priority brands grew 29%. Kisqali sales rose 37%, Kesimpta 22%, and Leqvio 63%.
• Pluvicto grew 20% in constant currency, but US growth was 9%. Management described the hormone-sensitive prostate cancer launch as being in its early days and expects further acceleration next year.
• Kisqali’s early breast cancer launch was approved in 84 countries and reimbursed in 43; management reported 55% first-line new-patient share for Kisqali in US metastatic disease.
• Leqvio’s US sales grew 60%; its share in Medicare reached 22%, according to management.