Quick Summary
- Novartis saw a 5% net sales decline as explosive growth from priority brands like Kisqali (+55%) and Pluvicto (+70%) was offset by anticipated generic competition in the US market.
- The company strengthened its innovative pipeline through the acquisition of Avidity and key regulatory milestones for Remibrutinib in chronic urticaria and Ianalumab in Sjögren’s disease.
- Management reaffirmed the full-year 2026 guidance, projecting low single-digit growth for net sales as momentum builds toward multiple high-impact clinical readouts in the second half of the year.
Novartis Q1 2026 Results were officially unveiled today, signaling a robust start for the company’s “pure-play” innovative medicines strategy. While the pharmaceutical giant saw a decline in overall net sales due to anticipated generic erosion in the United States, its priority brands, specifically in oncology and immunology, delivered double-digit growth that helped stabilize the quarterly performance.
Novartis delivered a strong start to 2026 across our priority brands and launches, while US generic erosion weighed on results in Q1 as expected.
Vas Narasimhan, CEO
Financial Performance Overview
The Novartis Q1 2026 Results reflect a 5% decline in net sales at constant currencies (cc), primarily driven by the “patent cliff” affecting several established assets in the US market. Despite this, volume growth from new launches contributed 13 percentage points to the topline, nearly offsetting the 14-percentage-point impact from generic competition.
Key Financial Figures (Q1 2026 vs. Q1 2025)
| Measure | Q1 2026 (USD m) | % Change (USD) | % Change (cc) |
| Net Sales | 13,113 | -1% | -5% |
| Operating Income | 4,235 | -9% | -11% |
| Core Operating Income | 4,897 | -12% | -14% |
| Net Income | 3,156 | -13% | -13% |
| Core EPS (USD) | 1.99 | -13% | -15% |
| Free Cash Flow | 3,330 | -2% | — |
Learn More: Johnson & Johnson Q1 2026 Results: Financial Growth and Pipeline Breakthroughs
Priority Brands and Growth Drivers
The momentum of the Novartis Q1 2026 Results was fueled by a handful of high-performing assets. Kisqali and Pluvicto led the charge, with the latter showing exceptional demand in the prostate cancer setting.
- Kisqali (+55% cc): Reached sales of USD 1,516 million, driven by its leadership in metastatic breast cancer and expanding use in early breast cancer.
- Pluvicto (+70% cc): Generated USD 642 million, benefiting from rapid uptake in the US and expanded access in international markets.
- Scemblix (+79% cc): Showed the highest percentage growth among established brands, particularly in early-line indications in Japan and Germany.
op 10 Brand Performance
| Brand | Q1 2026 Sales (USD m) | % Change (cc) | Primary Indication |
| Cosentyx | 1,566 | -2% | Immunology |
| Kisqali | 1,516 | +55% | Oncology |
| Entresto | 1,305 | -46% | Cardiovascular |
| Kesimpta | 1,164 | +26% | Neuroscience |
| Pluvicto | 642 | +70% | Oncology |
| Jakavi | 557 | +5% | Oncology |
| Tafinlar+Mekinist | 493 | -14% | Oncology |
| Ilaris | 475 | +10% | Immunology |
| Leqvio | 452 | +69% | Cardiovascular |
| Scemblix | 433 | +79% | Oncology |
Innovation Milestones and Clinical Updates
A critical component of the Novartis Q1 2026 Results was the advancement of the R&D pipeline. The company achieved several regulatory and clinical breakthroughs, particularly with Remibrutinib and Ianalumab.
Remibrutinib, a highly selective oral BTK inhibitor, received a positive CHMP opinion for chronic spontaneous urticaria (CSU) after demonstrating rapid symptom relief as early as Week 1 (Metz et al., 2024). Additionally, Phase III results from the RemIND trial showed it achieved statistically significant complete response rates in chronic inducible urticaria (CIndU) across its three most prevalent types (Jain et al., 2024).
Learn More: Abbott Announces Q1 2026 Results Amidst Strategic Abbott Acquisition of Exact Sciences
Selected Clinical & Regulatory Milestones
| Asset | Mechanism | Recent Milestone | Indication |
| Remibrutinib | BTK Inhibitor | Positive CHMP Opinion | CSU / CIndU |
| Ianalumab | BAFF-R Antibody | FDA Breakthrough Designation | Sjögren’s Disease |
| Fabhalta | Complement Factor B | 49.3% Slowing of eGFR Decline | IgA Nephropathy (IgAN) |
| Vanrafia | Endothelin Receptor | Phase III ALIGN Success | IgA Nephropathy (IgAN) |
| Del-desiran | xRNA | Positive Phase I/II Data | Myotonic Dystrophy (DM1) |
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2026 Outlook and Strategic Direction
Despite the heavy generic erosion from legacy products like Entresto, Novartis remains committed to its 2026 guidance. The company anticipates net sales to grow in the low single-digit range, supported by a continued focus on its four core therapeutic areas: cardiovascular-renal-metabolic, immunology, neuroscience, and oncology.
The recent acquisition of Avidity Biosciences further strengthens the neuroscience pipeline, specifically addressing neuromuscular diseases. With multiple Phase III readouts anticipated in the second half of 2026, the company is positioned to potentially raise its mid- to long-term growth outlook by year-end.
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