On July 21, Novartis rose 3.47% overnight, trading at $153.25/share, with turnover of $162,900.

On the news front, Novartis reported Q2 results that significantly exceeded market expectations, with innovative drug sales offsetting the impact of generic competition on its blockbuster heart drug Entresto. Q2 adjusted EPS came in at $2.41, beating the consensus estimate of $2.13 by approximately 13%. Net sales reached $14.408 billion, surpassing the $14.042 billion estimate. Notably, Q1 results had missed expectations due to generic drug pressure, with core EPS of $1.99 missing the $2.13 estimate and net sales of $13.1 billion falling short of the $13.6 billion forecast. The strong Q2 rebound signals a return to the growth trajectory, driven by robust performance from next-generation oncology therapies. The company also indicated that multiple key clinical trial readouts are expected in the second half, covering cardiology and multiple sclerosis, including Del-desiran for muscular disease acquired through its $12 billion Avidity Biosciences acquisition.

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