Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology, dermatology, respiratory, cardiovascular, renal, and metabolism medicine products. The Sandoz segment develops, manufactures, and markets finished dosage form medicines; active ingredients and finished dosage forms of small molecule pharmaceuticals to third parties; and retail generics and anti-infectives. It also provides active pharmaceutical ingredients and intermediates primarily antibiotics; protein- or other biotechnology-based products, including biosimilars; and biotechnology manufacturing services. Novartis AG has a license and collaboration agreement with Alnylam Pharmaceuticals to develop, manufacture, and commercialize inclisiran; and a clinical collaboration with Kura Oncology, Inc. to evaluate the combination of Tipifarnib and Alpelisib in patients with head and neck squamous cell carcinoma. The company was incorporated in 1996 and is headquartered in Basel, Switzerland.

Novartis AG

Net Sales to Third Parties

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Marketing & Sales

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General & Administration

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Other Income

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Operating Income

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Income from Associated Companies

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Financial Income

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Interest Expense

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Sales to Discontinued Operations

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Income Before Taxes

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Income Taxes

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Net Income from Continuing Operations

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Net Loss from Discontinued Operations Before Gain on Distribution of Alcon Inc. To Novartis AG Shareholders

Net Loss from Discontinued Operations Before Gain on Distribution of Alcon Inc. To Novartis AG Shareholders %Chg

Net Loss from Discontinued Operations Before Gain on Distribution of Alcon Inc. To Novartis AG Shareholders Common Size

Gain on Distribution of Alcon Inc. To Novartis AG Shareholders

Gain on Distribution of Alcon Inc. To Novartis AG Shareholders %Chg

Gain on Distribution of Alcon Inc. To Novartis AG Shareholders Common Size

Net Income from Discontinued Operations

Net Income from Discontinued Operations %Chg

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Net Income from Discontinued Operations Before Gain on Distribution of Sandoz Group AG to Novartis AG Shareholders

Net Income from Discontinued Operations Before Gain on Distribution of Sandoz Group AG to Novartis AG Shareholders %Chg

Net Income from Discontinued Operations Before Gain on Distribution of Sandoz Group AG to Novartis AG Shareholders Common Size

Gain on Distribution of Sandoz Group AG to Novartis AG Shareholders

Gain on Distribution of Sandoz Group AG to Novartis AG Shareholders %Chg

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Net Income

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Shareholders of Novartis AG

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Non-Controlling Interests

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Basic Earnings per Share from Continuing Operations (USD)

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Basic Earnings per Share from Discontinued Operations (USD)

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Total Revenues

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Cost of Sales

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Gross Profit Margin

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Selling, General & Administrative Expenses

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Research & Development Expenses

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Operating Profit

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Operating Margin

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Interest and Investment Income

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Non-Operating Income

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Total Non-Operating Income

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Income Before Provision for Income Taxes

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Provision for Income Taxes

Revenue

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CapEx

Net Interest Income

Assets

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Net Revenue

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Adjusted Funds From Operations

Income Statement	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Total Revenues	56,372	51,722	46,660	43,461	43,974	49,898	48,677	46,099	43,404	49,436	50,387
Total Revenues %Chg	12.9%	10.8%	7.4%	-1.2%	-11.9%	2.5%	5.6%	6.2%	-12.2%	-1.9%	-6.1%
Net Sales to Third Parties
Other Revenues
Cost of Sales	13,412	12,827	12,472	11,582	11,735	15,121	14,425	14,510	13,633	17,520	17,404
Cost of Goods Sold
Gross Profit	42,960	38,895	34,188	31,879	32,239	34,777	34,252	31,589	29,771	31,916	32,983
Gross Profit
Gross Profit Margin	76.2%	75.2%	73.3%	73.4%	73.3%	69.7%	70.4%	68.5%	68.6%	64.6%	65.5%
Selling, General & Administrative Expenses	13,309	12,566	12,517	12,193	12,827	14,197	14,369	13,717	12,465	14,192	14,247
Marketing & Sales
General & Administration
Selling, General and Administration
Research & Development Expenses	10,879	10,022	11,371	9,172	8,641	8,980	9,402	8,489	8,389	9,039	8,935
Research and Development
Other Operating Expenses	1,214	1,763	531	2,568	715	1,448	1,395	980	215	417	824
Other Income
Other Expense
Other Income & Expense
Other Income & Expense, Net
Operating Profit	17,558	14,544	9,769	7,946	10,056	10,152	9,086	8,403	8,702	8,268	8,977
Operating Income
Operating Margin	31.1%	28.1%	20.9%	18.3%	22.9%	20.3%	18.7%	18.2%	20%	16.7%	17.8%
Interest and Investment Income	-13	-38	-13	-11	15,337	673	659	6,438	1,108	703	266
Income from Associated Companies
(Loss)/Income from Associated Companies
Financial Income
Interest Expense	-1,115	-1,006	-855	-800	-787	-869	-850	-932	-750	-707	-655
Interest Expense
Non-Operating Income	-11	140	222	42	-76	-78	45	186	42	-447	-454
Other Financial Income and Expense
Total Non-Operating Income	-1,139	-904	-646	-769	14,474	-274	-146	5,692	400	-451	-843
Income Before Provision for Income Taxes	16,419	13,640	9,123	7,177	24,530	9,878	8,940	14,095	9,102	7,817	8,134
Income Before Taxes
Provision for Income Taxes	2,036	1,701	551	1,128	1,625	1,807	1,793	1,295	1,603	1,119	1,106
Income Taxes
Consolidated Net Income	14,383	11,939	8,572	6,049	22,905	8,071	7,147	12,800	7,499	6,698	7,028
Net Income from Continuing Operations
Net Income Attributable to Minority Interests and Other	-10	-2	4	—	-3	-1	5	3	—	-14	11
Non-Controlling Interests
Net Income Attributable to Discontinued Operations	—	—	6,282	906	1,113	—	4,590	-372	408	—	10,766
Net Income from Discontinued Operations
Net Income from Discontinued Operations
Net Income Attributable to Common Shareholders	14,393	11,941	14,850	6,955	24,021	8,072	11,732	12,611	7,703	6,712	17,783
Shareholders of Novartis AG
Basic EPS	7.4	5.9	4.1	2.8	10.2	3.6	5.1	5.5	3.2	2.8	2.9
Diluted EPS	7.3	5.9	4.1	2.8	10.1	3.5	5.1	5.5	3.2	2.8	2.9
Basic Weighted Average Shares Outstanding	1,957.3	2,018	2,077	2,181	2,243	2,277	2,291	2,319	2,346	2,378	2,403
Total Shares Outstanding	1,918.8	1,975.1	2,044	2,119.6	2,234.9	2,256.8	2,265	2,311.2	2,317.5	2,398	2,373.9
Diluted Weighted Average Shares Outstanding	1,970.8	2,035	2,092	2,197	2,260	2,296	2,319	2,344	2,371	2,400	2,438
EBITDA	17,558	14,544	9,769	7,946	10,056	10,152	9,086	8,403	8,702	8,268	8,977
Effective Tax Rate	12.4%	12.5%	6%	15.7%	6.6%	18.3%	20.1%	9.2%	17.6%	14.3%	13.6%