Novartis, a leading Swiss pharmaceutical company, has announced an increase in its financial targets for 2024. The company, known for its innovative medicines and global reach, is now aiming for sales of $70 billion by 2024, up from the previous target of $65 billion. Novartis is also aiming for an operating income margin of 32% by 2024, an increase from the previous target of 31%.
Novartis attributes these heightened targets to its focus on becoming a “pure-play” pharmaceutical company. This means that Novartis is concentrating all of its efforts on pharmaceuticals and has divested other businesses such as consumer health and eye care. By streamlining its operations and focusing solely on pharmaceuticals, Novartis believes it can drive growth and create more value for shareholders.
In a press release, Novartis CEO Vas Narasimhan stated, “We are a pure-play pharmaceutical company, harnessing our culture of entrepreneurship and innovation to drive exceptional results and maximize value for patients and shareholders.” The company’s commitment to innovation and patient care is evident in its recent success in developing breakthrough therapies for a wide range of diseases.
Novartis has a strong pipeline of new drugs in various stages of development, including treatments for cancer, cardiovascular diseases, and neurological disorders. The company’s dedication to research and development has paid off, with several successful drug launches in recent years. Novartis’ focus on cutting-edge therapies and personalized medicine has positioned it as a leader in the pharmaceutical industry.
With its revised financial targets and commitment to innovation, Novartis is poised for continued success in the coming years. Investors and industry analysts are eagerly anticipating the company’s future growth and impact on the global healthcare market.
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