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Novartis weathers Entresto slump with return to growth
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pharmaphorum
Novartis saw its sales grow 3% in the second quarter, returning to growth after a 1% fall in the first quarter caused by generic competition to heart failure drug Entresto.
"We are on track for multiple important readouts ahead in the second half, and remain on track to deliver our full-year guidance and mid-term outlook."
The company – whose shares rose almost 3% after the second-quarter announcement – is modelling low single-digit sales and operating profit growth for the full year.
Along with the loss of Entresto market exclusivity, Novartis is also dealing with generic competition to cancer therapy Tasigna (nilotinib) and platelet booster Promacta/Revolade (eltrombopag), both of which were former $2 billion-plus brands.
It will also lose patent protection for Kisqali and immunology and inflammation (I&I) blockbuster Cosentyx (secukinumab) – which grew 10% to $1.82 billion in the second quarter – between now and 2030.