The Zhitong Finance and Economics APP learned that based on optimistic expectations for new cancer and immunological disease drugs, as well as neurological and cardiovascular disease treatment drugs, Novartis AG (NVS.USA) raised its mid-term sales expectations. The pharmaceutical company headquartered in Basel, Switzerland, said on Thursday that by 2029, the company's revenue will grow at an annual rate of 6%, higher than the previous 5% expectation. Novartis has raised peak sales expectations for its drugs Cosentyx, Kisqali, Kesimpta, Pluvicto, and Leqvio, with most of these drugs expected to obtain exclusive U.S. marketing rights in the 2030s or later.

CEO Vas Narasimhan emphasized, 'In the coming years, there will be more than 15 datasets to submit to further drive our growth.'

Novartis also stated that the company has over 30 other assets in development, which are expected to achieve 4%-6% growth after 2029.

The group, after streamlining its once large medical care business portfolio, is driving growth to focus on innovative drugs. One year ago, with the spin-off of the generic drug manufacturer Sandoz, Narasimhan completed the final crucial step of the transformation.

The company's stock price has risen by 7.2% this year, while the Bloomberg index tracking European pharmaceutical companies has only increased by 3.1%.