▲May 30-31The 8th Guangzhou Biomedical Innovators Summit
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April 23,NovartisAnnouncement of Q1 2024 Financial Report: Revenue of $3.4 billion, a year-over-year increase of 39%; Net sales reached $11.8 billion, a year-over-year increase of 11%; among which,Net Sales in China Reach $1 Billion in Q1, Up 31% Year-over-Year。On January 5 this year, Novartis announced a full acquisitionXinruinuoPharmaceuticals,Strengthening the Layout in China's Nephrology Field。Xinruinuo Pharmaceutical (Shanghai) Co., Ltd. will be fully integrated into Novartis in China, becoming an indirectly wholly-owned subsidiary of Novartis.Xinruinuo Pharmaceutical (Shanghai) Co., Ltd. Xinruinuo was established in December 2021, jointly founded by Dingfeng Biomedical Capital, Frazier Healthcare Partners, and Chinook.January 9, NovartisCosentyx® (Secukinumab) has been approved by the National Medical Products Administration for the treatment of adult patients with active psoriatic arthritis.，Cosentyx®Was officially included in the national medical insurance catalog in 2020,This is following "Moderate to Severe Plaque Psoriasis" and "Ankylosing Spondylitis"Later, Cosentyx® was approved for the third indication in China.Indication. Secukinumab is currently the only fully human interleukin inhibitor in China with evidence support for sustained suppression of radiographic progression in psoriatic arthritis.Novartis' revenue growth this quarter was mainly driven by heart drug Entresto (which will lose patent protection next year), psoriasis drug Cosentyx, and multiple sclerosis drug Kesimpta, among others. The financial report shows:Entresto (Sacubitril/Valsartan) Sales Soar 36% to $1.88 Billion;Cosentyx (Kesimpta) revenue surged 25% to reach $1.33 billion; Kesimpta (Novartis) Revenue surged 66% to $6.37 billion. AdditionallyPluvicto, an anticancer drug, sees 47% sales growth, reaching $310 million.
This shows that Novartis performed outstandingly in the first quarter of 2024, with both sales and core profit margins achieving strong growth, driving the company to raise its expectations for the full year of 2024.The company expects sales to grow by a high single-digit to low double-digit percentage in 2024, higher than the previous forecast of mid-single-digit growth. Core operating profit is expected to grow at a low double-digit to 15% rate, compared to the previous expectation of high single-digit growth.Proposal for Former BMS CEO to Become New Chairman of NovartisMeanwhile, the earnings report mentioned: The company proposed on Tuesday that the former Chief Executive Officer (CEO) of Bristol-Myers Squibb (BMS)Dr. Giovanni CaforioAs the next leader of NovartisChairman of the Board.In 2000, Giovanni Caforio joined Bristol-Myers Squibb as Vice President and General Manager of the Global Pharmaceutical Group in Italy.In 2007,Giovanni CaforioEmigrated to the United States and served as Senior Vice President of Oncology in the U.S.In 2010,Giovanni CaforioAppointed as Senior Vice President of Global Commercialization, Oncology and Immunology,In 2011,GiOvanni Caforio has been appointed asBristol-Myers Squibb U.S. MarketPresident.In 2015,GiOvanni Caforio wasAppointed asBristol-Myers SquibbCEO。Dr. CaforioAt BMSHaving worked for 20 years,In 2015Promoted toBMSChief Executive Officer。In November 2023, Dr. Caforio stepped down, and hisPositionTo be continued by Dr. Christopher Boerner, the current Chief Operating Officer.While serving as CEOWithin the 8-year period,Caforio has driven several major acquisitions, the most notable of which is2019RebukeResources$74 billion acquisition of Celgene, merging the world's two largest cancer drug manufacturers into one, greatly expanding BMS's scale.In December 2023, BMS announced$14 billionAcquisition of Schizophrenia Drug Manufacturer Karuna TherapeuticsJoerg Reinhardt, Chairman of NovartisNovartis Chairman Joerg Reinhardt, who has been in office since 2013, will retire at the end of his 12-year term in December 2025.In 1982, Joerg Reinhardt began working at Sandoz. In 1996, Ciba-Geigy and Sandoz merged in a $30.9 billion merger of equals, leading to the official creation of Novartis, and Joerg Reinhardt subsequently joined Novartis. Before being appointed as Chairman, he held several senior executive positions, including Chief Operating Officer and head of Novartis' vaccines and diagnostics division at the time.During Joerg Reinhardt's tenure as chairman, Novartis replaced its CEO and underwent significant transformation. In 2018, the pharmaceutical company sold its stake in its consumer healthcare joint venture to GlaxoSmithKline for $13 billion and spun off its ophthalmology business, Alcon. In 2021, Novartis sold its entire stake in Roche to the latter for $20.7 billion, followed by a restructuring.WorkforceAnd the R&D pipeline. In 2023, Novartis spun off its generics company Sandoz, which was listed as an independent company on the Swiss Stock Exchange by the end of 2023.Source: Novartis announcement
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May • 8th Greater Bay Area Biomedical Innovators Summit
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