Tulmimetostat

药械追踪 No.1 / 罗氏PI3Kα抑制剂inavolisib获FDA批准，联合治疗乳腺癌 2024年10月10日，美国食品药品监督管理局（FDA）批准罗氏旗下基因泰克公司（Genentech, Inc.）的口服小分子疗法Itovebi（inavolisib）与CDK4/6抑制剂哌柏西利和氟维司群联合，用于治疗内分泌治疗耐药、PIK3CA基因突变、激素受体（HR）阳性、人表皮生长因子受体2（HER2）阴性的局部晚期或转移性乳腺癌成年患者，这些患者在接受辅助内分泌治疗时或完成辅助内分泌治疗后疾病复发。 同日，FDA还批准了FoundationOne Liquid CDx检测试剂盒作为与inavolisib联用的伴随诊断。 Inavolisib是一款潜在同类最佳（best-in-class）的PI3Kα抑制剂。此次获批是基于INAVO120（NCT04191499）研究的积极数据。 ->点击文末阅读原文，解锁完整双语新闻 No.2 / 罗氏伴随诊断欧盟获批，评估GC/GEJC患者是否适用佐妥昔单抗 今日，罗氏宣布旗下VENTANA CLDN18（43-14A）RxDx伴随诊断检测试剂获得欧盟CE认证，用于确定胃或胃食管交界处腺癌（GC/GEJC）患者肿瘤中CLDN18蛋白的表达，以评估患者是否适用于安斯泰来CLDN18.2靶向药物VYLOY（佐妥昔单抗）治疗。 VENTANA CLDN18（43-14A）RxDx是首个获得CE批准的免疫组化（IHC）伴随诊断产品，可检测CLDN18蛋白两种变体（18.1和18.2）的表达。该产品获批是基于SPOTLIGHT和GLOW临床研究的结果。 ->点击文末阅读原文，解锁完整双语新闻 No.3 / 渤健CD38单抗Felzartamab治疗AMR获FDA突破性疗法认定 2024年10月11日，渤健（Nasdaq：BIIB）宣布， Felzartamab获得美国FDA突破性疗法认定（BTD），用于治疗特定类型的肾移植排斥反应。 Felzartamab是一款潜在同类首创的抗CD38单克隆抗体，拟用于治疗无T细胞介导排斥的肾移植患者晚期抗体介导排斥（AMR）。 Felzartamab最早由MorphoSys开发，依据天境生物与MorphoSys于2017年11月签订的许可协议，天境生物拥有Felzartamab在中国（包括中国大陆及港澳台）的独家权益。2024年7月，渤健通过收购HI-Bio，获得Felzartamab在中国以外的独家权利。 ->点击文末阅读原文，解锁完整双语新闻 No.4 / 恒瑞医药EZH2抑制剂SHR2554拟纳入优先审评 10月11日，根据CDE官网最新公示，恒瑞医药EZH2抑制剂SHR2554片上市申请拟纳入优先审评，用于既往接受过至少1线系统性治疗的复发或难治外周T细胞淋巴瘤（R/R PTCL）。 SHR2554为恒瑞自主研发且具有知识产权的EZH2（zeste基因增强子源物2）抑制剂。2023年1月，SHR2554治疗R/R PTCL被国家药监局药品审评中心纳入突破性治疗品种名单。2023年11月，恒瑞启动SHR2554治疗R/R PTCL的III期临床试验（NCT06122389）。2023年2月，恒瑞将SHR2554项目在除大中华区以外的全球范围内开发、生产和商业化独占权利有偿许可给Treeline公司。 全球范围内，同类产品已有Epizyme公司（已被Ipsen收购）与和黄医药合作的Tazverik（tazemetostat）在2020年获批上市，用于治疗成人与16岁以上青少年转移性或局部晚期上皮样肉瘤（ES）；同年6月，批准成人复发/难治性滤泡性淋巴瘤（r/r FL）适应证。其他同靶点在研产品还包括辉瑞PF-06821497、第一三共valemetostat和Constellation（已被Morphosys收购）CPI-0209、信诺维XNW5004等。 ->点击文末阅读原文，解锁完整双语新闻 企业动态 No.1 / 14亿美元！礼来和KeyBioscience扩大减肥新药的合作 2024年10月10日，KeyBioscience和礼来已同意扩展其在开发双淀粉降钙素受体激动剂（DACRA）上的合作，DACRA是一种针对肥胖症及其相关疾病的新型潜在治疗药物。 此次合作扩大了礼来对KeyBioscience DACRA平台的权利，包括一种新分子，预计将在今年晚些时候进入肥胖和骨关节炎（OA）患者的II期研究。KeyBioscience将负责开展并完成这项研究，计划招募600名参与者，研究的双重主要目标是减轻体重和缓解骨关节炎（OA）疼痛。 根据扩展协议的条款，礼来将获得DACRA分子全球开发和商业化权利。作为交换这些权利的条件，KeyBioscience将收到一笔初始款项，以及高达14亿美元的后续付款，后者取决于特定的开发、监管和商业化里程碑是否达成；此外，KeyBioscience还将获得按净销售额计算的中个位数到低双位数的分层版税。 ->点击文末阅读原文，解锁完整双语新闻 行业政策 No.1 / 最高100万！国家药监局对药械质量安全内部举报人实施奖励 2024年10月10日，国家药品监督管理局综合司发布《关于对药品、医疗器械质量安全内部举报人举报实施奖励的公告（征求意见稿）》（简称《公告》），并于2024年10月10日~11月9日公开征求意见。 《公告》鼓励药品、医疗器械研制、生产、经营企业和使用单位，网络药品、医疗器械交易第三方平台提供者以及其他组织的内部员工、相关知情人，向监管部门举报药械质量安全重大违法行为。 鼓励企业、单位在其研发、生产、经营、使用场所醒目位置公示上述举报渠道。 鼓励各地结合实际建立内部举报人举报特殊处理通道，经研判内部举报人举报属于重大违法行为线索的，优先核查处理。 对于经查证属实的案件，药监部门将对符合条件的内部举报人予以奖励。每起案件的举报奖励金额上限为100万元。 ->点击文末阅读原文，解锁完整双语新闻 全球医疗情报领导者 解锁隐藏在数据中的商业潜力  关于 G B I ” 自从2002年成立以来，GBI始终以技术为驱动，为药企、器械及行业相关服务商提供贯穿生命周期的全球药品市场竞争数据、全球行业资讯、HCPs洞察、全国医疗器械数据等商业信息与洞察，助力企业在进行战略布局和决策时，脱颖而出。历经20余年的深耕细作GBI已成为95%以上跨国药企、国内头部药企、咨询与投资机构等医疗圈灯塔用户值得信赖的长期合作伙伴。 联系我们 投稿 | 发稿 | 媒体合作 ▶ zhangxinyue13@baidu.com 数据库 | 咨询服务 | 资讯追踪 ▶ 点击左下“阅读原文”完成表单填写 点击阅读原文，解锁完整双语新闻

Ad hoc announcement pursuant to Art. 53 LR Q2 net sales grew +11% (cc1, +9% USD) with core operating income up +19% (cc, +17% USD) Sales growth driven by continued strong performance from Entresto (+28% cc), Kesimpta (+65% cc), Cosentyx (+22% cc), Kisqali (+50% cc), Leqvio (+134% cc) and Pluvicto (+44% cc)Core operating income margin 39.6%, +270 basis points (cc), mainly driven by higher net sales Q2 operating income grew +47% (cc, +43% USD) and net income up +49% (cc, +43% USD)Q2 core EPS grew +21% (cc, +17% USD) to USD 1.97Q2 free cash flow1 of USD 4.6 billion (+40% USD) driven by higher net cash flows from operating activitiesH1 sales up +11% (cc, +9% USD) and core operating income up +21% (cc, +16% USD)Q2 selected innovation milestones: Fabhalta (iptacopan) received EU, Japan and China approval for the treatment of PNH Lutathera approved by FDA for pediatric GEP-NET patients (≥12 years) Scemblix filing for 1L CML accepted by FDA; received Breakthrough Therapy designationAtrasentan FDA filing accepted for the treatment of adult patients with IgANKisqali NATALEE updated data showed continued clinical benefit with median follow-up ~4 years Full-year 2024 guidance raised for core operating income based on strong momentum2 Net sales expected to grow high-single to low double-digit (unchanged)Core operating income expected to grow mid- to high teens (from low double-digit to mid-teens) Basel, July 18, 2024 – commenting on Q2 2024 results, Vas Narasimhan, CEO of Novartis, said: “Novartis delivered a strong Q2, with net sales up 11% and core operating income margin approaching 40%. Our performance reflects continued strong momentum of our key growth drivers, both in the US and ex-US, which has allowed us to upgrade our FY2024 guidance. We also advanced our pipeline in Q2, completing submissions to the FDA for Scemblix in first-line CML and atrasentan in IgAN, generating updated data in the NATALEE study to support the strong profile of Kisqali in eBC, and executing multiple deals to expand our pipeline in RLT and prostate cancer. We remain on track to achieve our mid-term sales growth (+5% cc CAGR 2023-2028) and margin (40%+ by 2027) guidance.” Key figuresContinuing operations3 Q2 2024Q2 2023% changeH1 2024H1 2023% change USD m USD mUSDcc USD m USD mUSDccNet sales12 51211 437911 24 34122 235911Operating income4 0142 8074347 7 3875 4253643Net income3 2462 2714349 5 9344 4213443EPS (USD)1.601.094752 2.912.123747Free cash flow4 6153 29240 6 6535 97611 Core operating income4 9534 2401719 9 4908 1461621Core net income4 0083 5021418 7 6896 7351419Core EPS (USD)1.971.691721 3.773.231722 1. Constant currencies (cc), core results and free cash flow are non-IFRS measures. An explanation of non-IFRS measures can be found on page 43 of the Interim Financial Report. Unless otherwise noted, all growth rates in this Release refer to same period in prior year. 2. Please see detailed guidance assumptions on page 7. 3. As defined on page 33 of the Interim Financial Report, Continuing operations include the retained business activities of Novartis, comprising the innovative medicines business and the continuing corporate activities and Discontinued operations include operational results from the Sandoz business. Strategy Our focus In 2023, Novartis completed its transformation into a “pure-play” innovative medicines business. We have a clear focus on four core therapeutic areas (cardiovascular-renal-metabolic, immunology, neuroscience and oncology), with multiple significant in-market and pipeline assets in each of these areas, that address high disease burden and have substantial growth potential. In addition to two established technology platforms (chemistry and biotherapeutics), three emerging platforms (gene & cell therapy, radioligand therapy and xRNA) are being prioritized for continued investment into new R&D capabilities and manufacturing scale. Geographically, we are focused on growing in our priority geographies – the US, China, Germany and Japan. Our priorities Accelerate growth: Renewed attention to deliver high-value medicines (NMEs) and focus on launch excellence, with a rich pipeline across our core therapeutic areas.Deliver returns: Continuing to embed operational excellence and deliver improved financials. Novartis remains disciplined and shareholder-focused in our approach to capital allocation, with substantial cash generation and a strong capital structure supporting continued flexibility. Strengthening foundations: Unleashing the power of our people, scaling data science and technology and continuing to build trust with society. Financials Following the September 15, 2023, shareholder approval of the spin-off of Sandoz, Novartis reported its consolidated financial statements as “continuing operations” and “discontinued operations.” Continuing operations include the retained business activities of Novartis, comprising the innovative medicines business and the continuing corporate activities. Discontinued operations include the Sandoz Division and selected portions of corporate activities attributable to Sandoz’s business, as well as certain expenses related to the spin-off. While the commentary below focuses on continuing operations, we also provide information on discontinued operations. Continuing operations Second quarter Net sales were USD 12.5 billion (+9%, +11% cc), with volume contributing 15 percentage points to growth. Generic competition had a negative impact of 2 percentage points and pricing had a negative impact of 2 percentage points. Operating income was USD 4.0 billion (+43%, +47% cc), mainly driven by higher net sales and lower impairments, partly offset by higher R&D investments. Net income was USD 3.2 billion (+43%, +49% cc), mainly driven by higher operating income. EPS was USD 1.60 (+47%, +52% cc), benefiting from the lower weighted average number of shares outstanding. Core operating income was USD 5.0 billion (+17%, +19% cc), mainly driven by higher net sales, partly offset by higher R&D investments. Core operating income margin was 39.6% of net sales, increasing 2.5 percentage points (+2.7 percentage points cc). Core net income was USD 4.0 billion (+14%, +18% cc), mainly due to higher core operating income. Core EPS was USD 1.97 (+17%, +21% cc), benefiting from the lower weighted average number of shares outstanding. Free cash flow from continuing operations amounted to USD 4.6 billion (+40% USD), compared with USD 3.3 billion in the prior-year quarter, driven by higher net cash flows from operating activities from continuing operations. First half Net sales were USD 24.3 billion (+9%, +11% cc), with volume contributing 15 percentage points to growth. Generic competition had a negative impact of 2 percentage points and pricing had negative impact of 2 percentage points. Operating income was USD 7.4 billion (+36%, +43% cc), mainly driven by higher net sales and lower impairments and restructuring charges, partly offset by a prior-year one-time income from legal matters. Net income was USD 5.9 billion (+34%, +43% cc), mainly driven by higher operating income. EPS was USD 2.91 (+37%, +47% cc), benefiting from the lower weighted average number of shares outstanding. Core operating income was USD 9.5 billion (+16%, +21% cc), mainly driven by higher net sales, partly offset by higher R&D investments. Core operating income margin was 39.0% of net sales, increasing 2.4 percentage points (+3.1 percentage points cc). Core net income was USD 7.7 billion (+14%, +19% cc), mainly due to higher core operating income. Core EPS was USD 3.77 (+17%, +22% cc), benefiting from the lower weighted average number of shares outstanding. Free cash flow from continuing operations amounted to USD 6.7 billion (+11% USD), compared with USD 6.0 billion in the prior-year period, driven by higher net cash flows from operating activities from continuing operations. Discontinued operations Discontinued operations include the Sandoz generic pharmaceuticals and biosimilars division, certain corporate activities attributable to Sandoz and certain other expenses related to the spin-off of the Sandoz business. Second quarter As the Sandoz spin-off was completed on October 3, 2023, there were no operating results in the second quarter of 2024 related to discontinued operations. In the second quarter of 2023, discontinued operations net sales were USD 2.4 billion, operating income amounted to USD 113 million and net income from discontinued operations was USD 46 million. For further details see Note 3 “Significant acquisition of businesses and spin-off of Sandoz business” and Note 11 “Discontinued operations” to the condensed interim consolidated financial statements. First half As the Sandoz spin-off was completed on October 3, 2023, there were no operating results in the first half 2024 related to discontinued operations. In the first half 2023, discontinued operations net sales were USD 5.0 billion, operating income amounted to USD 351 million and net income from discontinued operations was USD 190 million. For further details see Note 3 “Significant acquisition of businesses and spin-off of Sandoz business” and Note 11 “Discontinued operations” to the condensed interim consolidated financial statements. Total Company Second quarter Total Company net income was USD 3.2 billion in 2024, compared to USD 2.3 billion in 2023 and basic EPS was USD 1.60 compared to USD 1.11 in prior year quarter. Net cash flows from operating activities for total Company amounted to USD 4.9 billion and free cash flow amounted to USD 4.6 billion. First half Total Company net income was USD 5.9 billion in 2024, compared to USD 4.6 billion in 2023 and basic EPS was USD 2.91 compared to USD 2.20 in prior year. Net cash flows from operating activities for total Company amounted to USD 7.1 billion and free cash flow amounted to USD 6.7 billion. Q2 key growth drivers Underpinning our financial results in the quarter is a continued focus on key growth drivers (ranked in order of contribution to Q2 growth) including: Entresto(USD 1 898 million, +28% cc) sustained robust demand-led growth, with increased penetration in the US and Europe following guideline-directed medical therapy in heart failure, as well as in China with increased penetration in hypertensionKesimpta(USD 799 million, +65% cc) sales grew across all regions reflecting increased demand and strong access for a high efficacy product with convenient self-administered dosingCosentyx(USD 1 526 million, +22% cc) sales grew mainly in the US, driven by recent launches (including the HS indication and the IV formulation in the US) in addition to volume growth in core indicationsKisqali(USD 717 million, +50% cc) sales grew strongly across all regions, based on increasing recognition of its overall survival benefit in HR+/HER2- advanced breast cancer and Category 1 NCCN guidelines recommendation Leqvio(USD 182 million, +134% cc) continued to show steady growth, with a focus on increasing account and patient adoption, growing customer confidence in acquisition and access, and continuing medical educationPluvicto(USD 345 million, +44% cc) grew in the US and Europe. With supply now unconstrained, the focus is on increasing share in established RLT sites, opening new sites and referral pathways, and initiating new patientsXolair(USD 427 million, +22% cc) growth was driven mainly by emerging growth markets and Europe Ilaris(USD 368 million, +20% cc) sales grew across all regions, mainly US and EuropeScemblix(USD 164 million, +56% cc) sales grew across all regions, demonstrating the high unmet need in later lines of CML Jakavi(USD 471 million, +13% cc) sales grew across all regions, with strong demand in both myelofibrosis and polycythemia vera indicationsTafinlar + Mekinist(USD 523 million, +9% cc) sales grew in all regions, led by emerging growth markets Lutathera(USD 175 million, +17% cc) sales grew across all regions due to increased demand, following the presentation of NETTER-2 results in 1L GEP-NET Fabhalta(USD 22 million) continued to show encouraging early launch indicators in the US, as the first oral monotherapy approved for PNH patientsEmerging Growth Markets*Grew +16% (cc) overall. China grew +27% (cc) to USD 1.1 billion, mainly driven by Entresto and Xolair *All markets except the US, Canada, Western Europe, Japan, Australia, and New Zealand Net sales of the top 20 brands in Q2 2024 Q2 2024 % changeH1 2024 % change USD mUSDccUSD mUSD ccEntresto1 89825283 7773032Cosentyx1 52620222 8522123Kesimpta79963651 4366466Kisqali71745501 3444852Promacta/Revolade544-7-51 064-6-4Tafinlar + Mekinist5235999757Jakavi4718139491215Tasigna446-6-4841-10-9Xolair42718228261518Ilaris36816207241217Sandostatin Group313-5-466813Pluvicto34544446554545Zolgensma349121464446Lucentis275-30-28589-27-26Exforge Group178-3137003Lutathera17517173441516Leqvio182133134333135137Gilenya138-49-47313-38-36Scemblix16455563006567Diovan Group16039300-41Top 20 brands total9 998151819 3261618 R&D update - key developments from the second quarter New approvals Fabhalta(iptacopan)EU, Japan and China approval for the treatment of adults with the rare blood disorder paroxysmal nocturnal hemoglobinuria (PNH).Lutathera(lutetium Lu 177 dotatate)FDA approval for the treatment of pediatric patients (≥12 years) with somatostatin receptor-positive gastroenteropancreatic neuroendocrine tumors (GEP-NETs). Regulatory updates Scemblix(asciminib)FDA granted Breakthrough Therapy designation to Scemblix for the treatment of adult patients with newly diagnosed Philadelphia chromosome-positive chronic myeloid leukemia in chronic phase (Ph+ CML-CP). FDA submission for first-line CML is completed and under Real-Time Oncology Review.AtrasentanFDA filing accepted for the treatment of adult patients with IgA nephropathy (IgAN).Lutathera(lutetium Lu 177 dotatate)EU filing accepted for the treatment of newly diagnosed, unresectable or metastatic, well-differentiated (G2 and G3), somatostatin receptor-positive GEP-NETs in adults. Results from ongoing trials and other highlights Scemblix(asciminib)In the Phase III ASC4FIRST study, Scemblix demonstrated superior major molecular response rates at week 48 vs investigator-selected standard-of-care tyrosine kinase inhibitors (TKIs) (67.7% vs 49.0%) and vs imatinib alone (69.3% vs 40.2%) in adults with newly diagnosed Ph+ CML-CP. Scemblix also demonstrated a favorable safety and tolerability profile. These results have been submitted to the FDA under Real-Time Oncology Review. Data presented at ASCO and EHA 2024 and published in the New England Journal of Medicine. Kisqali(ribociclib)New analyses following the end of Kisqali treatment for all patients in the Phase III NATALEE study in HR+/HER2- early breast cancer showed a continued clinically meaningful benefit with a consistent safety profile. Results to be presented at an upcoming medical meeting. In addition, a subgroup analysis from the NATALEE study at the time of final iDFS data cut-off showed the addition of Kisqali to endocrine therapy in patients with high-risk node-negative (N0) disease resulted in a 28% risk reduction in iDFS. The efficacy, safety and tolerability profile observed in the high-risk N0 subgroup​ is consistent with the overall NATALEE study population. Data presented at ASCO 2024.Fabhalta(iptacopan)Phase III APPEAR-C3G data showed a 35.1% proteinuria reduction vs placebo at 6 months for C3G patients treated with Fabhalta in addition to supportive care. Secondary endpoint data for estimated glomerular filtration rate showed numerical improvement over 6 months vs placebo. The study also showed Fabhalta has a favorable safety profile with no new safety signals. Submissions to the FDA and EMA for the adult C3 glomerulopathy indication are planned for H2 2024. Data presented at ERA 2024. Phase III APPLAUSE-IgAN data showed a 38.3% proteinuria reduction at nine months vs placebo for patients with IgAN. Fabhalta was well tolerated with a favorable safety profile consistent with previously reported data. Data presented at WCN 2024.AtrasentanResults from a pre-specified interim analysis of Phase III ALIGN data showed patients treated with atrasentan, in addition to supportive care with a renin-angiotensin system inhibitor, achieved a statistically significant 36.1% reduction in proteinuria vs placebo on top of supportive care at 36 weeks. Results presented at ERA 2024.RemibrutinibPhase III REMIX-1 and REMIX-2 data showed sustained efficacy and long-term safety of oral remibrutinib in chronic spontaneous urticaria (CSU) patients, with improvements in weekly urticaria activity scores observed as early as week 1 and sustained to week 52. Across both studies, remibrutinib demonstrated a favorable and consistent safety profile up to one year, including balanced liver function tests vs placebo. Novartis plans to submit remibrutinib for regulatory approval in 2025. Data presented at EAACI 2024.Coartem (artemether- lumefantrine)Phase II/III CALINA study data demonstrated that an optimized dose of Coartem developed for babies weighing <5kg with malaria has the required pharmacokinetic profile and good efficacy and safety. Data presented at the Multilateral Initiative on Malaria Pan-African Malaria Conference 2024.Deals In line with our strategic focus on oncology, Novartis acquired >90% of the total share capital of MorphoSys AG, adding to our pipeline pelabresib, a late-stage investigational BET inhibitor for myelofibrosis, and tulmimetostat, an early-stage investigational dual inhibitor of EZH2 and EZH1 for solid tumors or lymphomas. Novartis acquired Mariana Oncology, a biotech company focused on developing novel radioligand therapies (RLTs) across a range of solid tumors. The acquisition brings a robust portfolio of RLT programs, including MC-339, an actinium-based RLT being investigated in small cell lung cancer. Novartis expanded its peptide discovery collaboration with PeptiDream. Under the multi-program agreement, PeptiDream will identify and optimize novel macrocyclic peptides against targets selected by Novartis, for potential application in RLT. Novartis signed an exclusive strategic license agreement with Arvinas for the worldwide development and commercialization of ARV-766, a second generation PROTAC® androgen receptor (AR) degrader, complementing our RLT platform in prostate cancer. Capital structure and net debt Retaining a good balance between investment in the business, a strong capital structure and attractive shareholder returns remains a priority. During the first half of 2024, Novartis repurchased a total of 26.7 million shares for USD 2.7 billion on the SIX Swiss Exchange second trading line. These purchases included 25.9 million shares (USD 2.6 billion) under the up-to USD 15 billion share buyback announced in July 2023 (with up to USD 10.1 billion still to be executed). In addition, 0.8 million shares (USD 0.1 billion) were repurchased to mitigate dilution related to participation plans of associates, with the remainder of repurchases for this purpose to be executed in H2 2024. Further, 1.1 million shares (for an equity value of USD 0.1 billion) were repurchased from associates. In the same period, 8.4 million shares (for an equity value of USD 0.5 billion) were delivered as a result of share deliveries related to participation plans of associates. Consequently, the total number of shares outstanding decreased by 19.4 million versus December 31, 2023. These treasury share transactions resulted in an equity decrease of USD 2.3 billion and a net cash outflow of USD 2.7 billion. As of June 30, 2024, net debt increased to USD 18.8 billion compared to USD 10.2 billion net debt at December 31, 2023. The increase was mainly due to the USD 7.6 billion annual dividend payment, net cash outflow for M&A / intangible assets transactions of USD 5.0 billion and cash outflow for treasury share transactions of USD 2.7 billion, partially offset by USD 6.7 billion free cash flow. As of Q2 2024, the long-term credit rating for the company is Aa3 with Moody’s Ratings and AA- with S&P Global Ratings. 2024 outlook Barring unforeseen events; growth vs prior year in ccPrevious guidanceNet salesExpected to grow high single to low double-digit(unchanged)Core operating incomeExpected to grow mid- to high teens(from low double-digit to mid-teens) Key assumptions: Our guidance assumes that no Entresto generics and no Promacta generics launch in the US in 2024 Foreign exchange impact If mid-July exchange rates prevail for the remainder of 2024, the foreign exchange impact for the year would be negative 2 to negative 1 percentage points on net sales and negative 3 percentage points on core operating income. The estimated impact of exchange rates on our results is provided monthly on our website. 2025 Annual General Meeting Nomination for election to the Board of Directors The Novartis Board of Directors announced today that it is nominating Elizabeth M. McNally, MD, PhD, for election to the Board. Dr. McNally is Director of the Center for Genetic Medicine at Northwestern University, Feinberg School of Medicine, and as a practicing cardiologist and renowned research leader specializing in the genetics of cardiovascular and neuromuscular disorders, her clinical and scientific expertise will add greatly to the Novartis Board of Directors. Dr. McNally completed her MD and PhD at the Albert Einstein College of Medicine, and trained in Internal Medicine and Cardiology at the Brigham and Women’s Hospital at Harvard Medical School. She is a member of the National Academy of Medicine, serves on the Board of the Muscular Dystrophy Association, and is also the Founder and CEO of Ikaika Therapeutics. Board of Directors announcements The Board also noted Charles L. Sawyers and William T. Winters will not stand for re-election at the AGM 2025 in accordance with the 12-year term limit. The Board of Directors and the Executive Committee of Novartis thank them for their outstanding contributions and many years of distinguished service. Key figures1 Continuing operations2Q2 2024Q2 2023% change H1 2024H1 2023% change USD m USD mUSDcc USD m USD mUSDccNet sales12 51211 437911 24 34122 235911Operating income4 0142 8074347 7 3875 4253643As a % of sales32.124.5 30.324.4 Net income3 2462 2714349 5 9344 4213443EPS (USD)1.601.094752 2.912.123747Cash flows from operating activities4 8753 51739 7 1406 36912 Non-IFRS measures Free cash flow 4 6153 29240 6 6535 97611 Core operating income4 9534 2401719 9 4908 1461621As a % of sales39.637.1 39.036.6 Core net income4 0083 5021418 7 6896 7351419Core EPS (USD)1.971.691721 3.773.231722 Discontinued operations2Q2 2024Q2 2023% change H1 2024H1 2023% change USD m USD mUSDcc USD m USD mUSDccNet sales 2 449nmnm 4 952nmnmOperating income 113nmnm 351nmnmAs a % of sales 4.6 7.1 Net income 46nmnm 190nmnmNon-IFRS measures Core operating income 428nmnm 935nmnmAs a % of sales 17.5 18.9 Total CompanyQ2 2024Q2 2023% change H1 2024H1 2023% change USD m USD mUSDcc USD m USD mUSDccNet income3 2462 317nmnm 5 9344 611nmnmEPS (USD)1.601.11nmnm 2.912.20nmnmCash flows from operating activities4 8753 576nmnm 7 1406 533nmnmNon-IFRS measures Free cash flow 4 6153 275nmnm 6 6535 995nmnmCore net income4 0083 811nmnm 7 6897 425nmnmCore EPS (USD)1.971.83nmnm 3.773.54nmnm nm=not meaningful 1. Constant currencies (cc), core results and free cash flow are non-IFRS measures. An explanation of non-IFRS measures can be found on page 43 of the Interim Financial Report. Unless otherwise noted, all growth rates in this Release refer to same period in prior year.2. As defined on page 33 of the Interim Financial Report, Continuing operations include the retained business activities of Novartis, comprising the innovative medicines business and the continuing corporate activities and Discontinued operations include operational results from the Sandoz business. Detailed financial results accompanying this press release are included in the Interim Financial Report at the link below:https://ml-eu.globenewswire.com/resource/download/a9652d15-40e9-4a4b-b225-32014f48e99e/ DisclaimerThis press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, that can generally be identified by words such as “may,” “will,” “continue,” “ongoing,” “grow,” “launch,” “expect,” “deliver,” “focus,” “address,” “accelerate,” “deliver,” “remain,” “scaling,” “guidance,” “outlook,” “long-term,” “priority,” “potential,” “can,” “trajectory” or similar expressions, or by express or implied discussions regarding potential new products, potential new indications for existing products, potential product launches, or regarding potential future revenues from any such products; or regarding results of ongoing clinical trials; or regarding potential future, pending or announced transactions, including completion of the acquisition of MorphoSys AG; regarding potential future sales or earnings; or by discussions of strategy, plans, expectations or intentions, including discussions regarding our continued investment into new R&D capabilities and manufacturing; or regarding our capital structure; or regarding the consequences of the spin-off of Sandoz and our transformation into a “pure-play” innovative medicines company. Such forward-looking statements are based on the current beliefs and expectations of management regarding future events and are subject to significant known and unknown risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. You should not place undue reliance on these statements. There can be no guarantee that the investigational or approved products described in this press release will be submitted or approved for sale or for any additional indications or labeling in any market, or at any particular time. Nor can there be any guarantee that such products will be commercially successful in the future. Neither can there be any guarantee expected benefits or synergies from the transactions described in this press release will be achieved in the expected timeframe, or at all. In particular, our expectations could be affected by, among other things: uncertainties regarding the success of key products, commercial priorities and strategy; uncertainties in the research and development of new products, including clinical trial results and additional analysis of existing clinical data; uncertainties regarding the use of new and disruptive technologies, including artificial intelligence; global trends toward healthcare cost containment, including ongoing government, payer and general public pricing and reimbursement pressures and requirements for increased pricing transparency; uncertainties regarding our ability to realize the strategic benefits, operational efficiencies or opportunities expected from our external business opportunities; our ability to realize the intended benefits of our separation of Sandoz into a new publicly traded standalone company; our ability to obtain or maintain proprietary intellectual property protection, including the ultimate extent of the impact on Novartis of the loss of patent protection and exclusivity on key products; uncertainties in the development or adoption of potentially transformational digital technologies and business models; uncertainties surrounding the implementation of our new IT projects and systems; uncertainties regarding potential significant breaches of information security or disruptions of our information technology systems; uncertainties regarding actual or potential legal proceedings, including regulatory actions or delays or government regulation related to the products and pipeline products described in this press release; safety, quality, data integrity, or manufacturing issues; our performance on and ability to comply with environmental, social and governance measures and requirements; major political, macroeconomic and business developments, including impact of the war in certain parts of the world; uncertainties regarding future global exchange rates; uncertainties regarding future demand for our products; and other risks and factors referred to in Novartis AG’s most recently filed Form 20-F and in subsequent reports filed with, or furnished to, the US Securities and Exchange Commission. Novartis is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise. All product names appearing in italics are trademarks owned by or licensed to Novartis. This communication is neither an offer to purchase nor a solicitation of an offer to sell shares of MorphoSys. The final terms and further provisions regarding the delisting purchase offer are available in the offer document published by Novartis BidCo AG (formerly known as Novartis data42 AG) (the “Bidder”). The offer document has been approved by the BaFin and has been filed with the U.S. Securities and Exchange Commission (the “SEC”). The solicitation and offer to buy shares of MorphoSys is only being made pursuant the offer document. In connection with the Offer, the Bidder and Novartis AG have filed Tender Offer Statement on Schedule TO with the SEC (together with the offer document, an Offer to Purchase including the means to tender and other related documents, the “Offer Documents”), the management board and supervisory board of MorphoSys have issued a joint reasoned statement in accordance with sec. 27 of the German Securities Acquisition and Takeover Act and MorphoSys has filed a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC (together with the joint reasoned statement, the “Recommendation Statements”). THE MORPHOSYS SHAREHOLDERS AND OTHER INVESTORS ARE URGED TO READ THE OFFER DOCUMENTS AND THE RECOMMENDATION STATEMENTS BECAUSE THEY CONTAIN IMPORTANT INFORMATION WHICH SHOULD BE READ CAREFULLY BEFORE ANY DECISION IS MADE WITH RESPECT TO THE OFFER. The Offer Documents and the Recommendation Statements have been distributed to all stockholders of MorphoSys in accordance with German and U.S. securities laws. The Tender Offer Statement on Schedule TO and the Solicitation/Recommendation Statement on Schedule 14D-9 are available for free at the SEC’s website at www.sec.gov. Additional copies may be obtained for free by contacting the Bidder or MorphoSys. Free copies of these materials and certain other offering documents are available on the Bidder’s website at www.novartis.com/investors/morphosys-acquisition or by contacting the Bidder’s investor relations department at +41 61 324 7944. About Novartis Novartis is an innovative medicines company. Every day, we work to reimagine medicine to improve and extend people’s lives so that patients, healthcare professionals and societies are empowered in the face of serious disease. Our medicines reach more than 250 million people worldwide. Reimagine medicine with us: Visit us at https://www.novartis.com and connect with us on LinkedIn, Facebook, X/Twitter and Instagram. Novartis will conduct a conference call with investors to discuss this news release today at 14:00 Central European time and 8:00 Eastern Time. A simultaneous webcast of the call for investors and other interested parties may be accessed by visiting the Novartis website. A replay will be available after the live webcast by visiting https://www.novartis.com/investors/event-calendar. Detailed financial results accompanying this press release are included in the condensed interim financial report at the link below. Additional information is provided on our business and pipeline of selected compounds in late-stage development. A copy of today's earnings call presentation can be found at https://www.novartis.com/investors/event-calendar. Important dates October 29, 2024 November 20-21, 2024 January 31, 2025 Third quarter & nine months 2024 resultsMeet Novartis Management 2024 (London, UK)Fourth quarter & full year 2024 results Please find full media release in English attached and on the following link:Media Release (PDF) Further language versions are available through the following links: German version is available through the following link:Medienmitteilung (PDF) French version is available through the following link:Communiqué aux médias (PDF)