Up­dat­ed: No­var­tis 'on track' to com­plete re­struc­tur­ing post San­doz spin, push­es back Plu­vic­to fil­ing

No­var­tis has fi­nal­ly be­come the “pure-play” busi­ness that ex­ecs have been work­ing to­ward for the past few years, up­ping the stakes on its R&D pipeline af­ter what CEO Vas Narasimhan called a “sig­nif­i­cant prun­ing of the port­fo­lio.”

Re­port­ing its first quar­ter­ly earn­ings since com­plet­ing the San­doz spin­off in ear­ly Oc­to­ber, No­var­tis un­der­scored a 12% jump in third-quar­ter sales and raised its guid­ance on op­er­at­ing in­come for the year, with Kes­imp­ta, En­tresto, Kisqali and Plu­vic­to cred­it­ed as key growth dri­vers. Sales to­taled $11.8 bil­lion in the third quar­ter, up from $10.5 bil­lion in the same three months of last year.

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